Jeffersonville gets emergency loan for sewage system repairs
Jeffersonville is one of three Georgia cities receiving financing for water or wastewater system improvements from the Georgia Environmental Finance Authority.
The city was awarded a $66,000 loan from the Georgia Fund Tuesday, according to a statement from the authority.
The loan will finance emergency repairs to the citys triplex lift station to avoid potential sewerage overflows and spills.
Jeffersonville will pay just 0.40 percent interest on the 10-year loan. The loan qualifies for a reduced interest rate because the Georgia Fund contains an Environmental Emergency Loan provision to help communities finance necessary improvements to eliminate actual or potential public health hazards or environmental regulation violations.
The Georgia Fund, a state-funded program administered by GEFA, provides communities with low-interest loans for water, wastewater, water conservation and solid waste infrastructure projects. Eligible projects include water and sewer lines, treatment plants, pumping stations, wells, water storage tanks and water meters. The projects conserve and improve water resources and facilitate economic growth and development.
Low-interest loans from this program are available up to $10 million.