A loan of $5 million was awarded to the City of Blue Ridge by the Clean Water State Revolving Fund (CWSRF) May 12.
The loan will be used to rehabilitate the city’s water pollution control plant as it is not operating efficiently due to old equipment, according to Amanda DeVore, Georgia Environmental Finance Authority public relations manager.
The city will be responsible for 2.34% interest on the 25 year loan. The loan qualifies for a reduced interest rate, and the city is eligible for principle forgiveness up to $750,000.
CWSRF provides low interest loans for wastewater and water pollution control infrastructure. Projects must conserve and improve water resources and facilitate economic development.
The program is funded by the U.S. Environmental Protection Agency and the state of Georgia.