GEFA Board of Directors Approves $9.4 Million in Loans to Finance Water and Sewer Infrastructure Improvements

As part of Governor Sonny Perdue’s vision for sustainable economic development, Georgia Environmental Facilities Authority (GEFA) Executive Director Chris Clark announced today the approval of four Georgia Fund loan commitments of $7,932,800 and one Clean Water State Revolving Fund (CWSRF) sewer loan of $1,500,000. The GEFA board of directors approved the commitments to help finance water and sewer infrastructure projects for Bartow County, Madison County, Rockdale County and the cities of Monroe and Remerton.

“Infrastructure improvements increase the quality of life for Georgia citizens, and they help cities and counties create jobs and promote economic development,” said Governor Sonny Perdue. “I’m pleased these investments are being made in water and sewer infrastructure.”

“GEFA’s programs are a tangible commitment by Governor Perdue and the General Assembly to assist local governments across the state with their efforts to provide clean water, sewer and solid waste improvements,” said Chris Clark. “In addition to the public’s health and safety, these projects are critical to a community’s ability to prosper economically.”

Clark expressed appreciation to Governor Perdue and the Georgia General Assembly for their support. He credited Governor Perdue’s commitment to helping Georgia cities and counties finance infrastructure development as one of the main contributors to GEFA’s success.

“The projects that we agreed to finance today illustrate how GEFA helps communities of all sizes, in all areas of the state,” said Matt Beasley, chairman of the GEFA board of directors and mayor of the city of Hartwell. “From the smallest of communities to the largest, GEFA is investing in communities that are willing to invest in themselves.”

GEFA helps communities prepare for economic growth and development through the provision of low interest loans and grants. The Georgia Fund is a state funded loan program administered by GEFA for water, wastewater and solid waste infrastructure projects. The loan program has maximum flexibility and accessibility, providing fast loan approvals. The Georgia Fund finances loans to local government for projects such as water and sewer lines, treatment plants, pumping stations, wells, water storage tanks and water meters. Low interest loans from this program range from $20,000 to $50 million.

The CWSRF is a federal loan program administered by GEFA for wastewater infrastructure projects. Eligible projects include a wide variety of wastewater collection and treatment project and storm water projects.
Details of the loans approved today are below:

Bartow County

Bartow County was approved for a Georgia Fund loan of $2,500,000 to install and relocate water lines. Bartow County will pay a 4.27 percent interest rate on the 20-year loan.

Madison County Industrial Development and Building Authority

The Madison County Industrial Development and Building Authority (IDBA) was approved for a Georgia Fund loan of $1,611,000 to construct a wastewater treatment and disposal system serving commercial development along the US 29 corridor. The project includes collection lines, a lift station and a six-inch force main. The Madison County IDBA will pay a 4.27 percent interest rate on the 20-year loan.

City of Monroe

The city of Monroe was approved for a Georgia Fund loan of $3,429,800 to construct water mains that convey raw water from Briscoe Reservoir to the city’s water treatment plant. Monroe will pay a 4.27 percent interest rate on the 20-year loan.

City of Remerton

The city of Remerton was approved for a Georgia Fund loan of $392,000 to install meters and backflow assemblies to connect to the city of Valdosta’s water system. The city of Remerton is eligible for a discounted loan rate as a Georgia Signature Community, and will pay a 3.77 percent interest rate on the 15-year loan.

Rockdale County

Rockdale County was approved for a Clean Water State Revolving Fund loan of $1,500,000 to implement watershed restoration measures in the Lakefield urban watershed for the purposes of improving water quality, reducing flooding, reducing stream bank erosion and improving aquatic habitat downstream. Rockdale County will pay three percent interest on the 20-year loan.

Cities and counties interested in more information regarding GEFA loans should visit www.gefa.org or call (404) 584-1000.
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