DEWITT — The city of DeWitt has been chosen by the Iowa Department of Natural Resources and the Iowa Finance Authority for a low-interest water quality loan to help fund a planning and design project for the city’s wastewater treatment facility.
The DNR announced DeWitt’s loan, along with loans for several other cities, on Thursday as part of a $128.1 million initiative to ultimately improve water quality in the state through the State Revolving Fund. DeWitt has been loaned $88,750 as part of the project, the DNR and Iowa Finance Authority announced.
DeWitt Finance Director Deanna Rekemeyer said Thursday that the loan is a two-year, zero interest loan, and the funding will be used to carry out “nutrient and disinfectant studies on the city’s wastewater treatment facility.” Officials submitted the request for the loan in October, Rekemeyer said, knowing that the requests for sewer planning and design projects are “always approved.”
“State Revolving Fund Construction Loans are a low-cost construction financing option available for Iowa cities and municipalities for water quality initiatives,” a joint release from the awarding entities said. “Planning and Design Loans are zero-percent loans that assist with the first phase of project expenses.”
Throughout the program’s history, construction and planning and design loans awarded by the entities have had a significant financial impact on the fight for improved water quality throughout the state, the release explained. The State Revolving Fund has awarded Iowa communities and municipalities more than $2.9 billion in construction loans and more than $184 million through planning and design loans since the program’s inception.
“State Revolving Fund financing has impacted the lives of more than 2 million Iowans and has saved Iowa communities more than $18 million in interest,” Iowa Finance Authority Director Dave Jamison said in the release. “I commend the 30 communities most recently awarded State Revolving Fund loans for selecting this low-cost financing to advance their water quality efforts.”