ATLANTA – As part of Governor Sonny Perdue’s vision for sustainable economic development, the Georgia Environmental Finance Authority (GEFA) announced today the approval of financing for seven environmental infrastructure projects totaling $6,9 million. The GEFA board of directors approved the commitments to help finance water and wastewater system infrastructure improvements for the Henry County Water & Sewerage Authority (HCWSA), and the cities of Commerce, Jasper, Marshallville, Poulan, Ringgold and Thomasville.
“Investment in our state’s water infrastructure stimulates the economy, promotes the stewardship of our natural resources and helps to meet Georgia’s future water needs,” said Governor Perdue. “The projects approved today will improve water system efficiency and will ensure clean and safe water.”
“The water programs administered by GEFA assist local governments with improving their environmental infrastructure,” said GEFA Executive Director Kevin Clark. “Financing water projects encourages economic growth and the stewardship of our environment.”
Clark expressed appreciation to Governor Perdue and to the members of the 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.
“GEFA financing for water infrastructure helps communities in all areas of the state,” said J.C. Warren, acting chairman of the GEFA board of directors and member of the Screven County Board of Commissioners. “The projects that we agreed to finance today demonstrate that 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.
The Drinking Water State Revolving Fund (DWSRF) is a federal loan program administered by GEFA for water infrastructure projects. Eligible projects include public health-related water supply construction.
The Georgia Fund is a state-funded program administered by GEFA for water, wastewater and solid waste infrastructure projects. The program has maximum flexibility and accessibility, and offers fast loan and grant approvals. The Georgia Fund provides loans and grants to local governments 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 are available up to $3 million.
Below are details of the loans approved today (Nov. 19):
City of Thomasville
The city of Thomasville was approved for a Drinking Water State Revolving Fund (DWSRF) loan of $2,250,000 to finance purchasing and replacing water meters and a GIS asset and work management system. The city of Thomasville will pay three percent interest on a 15-year loan for $2,250,000 the total amount of the project. As a green project, 50 percent of the principal drawn will be forgiven. The 2010 DWSRF program guidelines direct the states to reserve 20 percent of the DWSRF funding for projects that address water or energy efficiency improvements or other environmentally-innovative activities.