Cleveland Receives $10,000,000 For Wastewater Construction Loan

Tuesday, March 13, 2018

Six communities have been approved to receive more than $23.9 million in low-interest loans for water and wastewater infrastructure improvements, including $10,000,000 for the city of Cleveland.

“Abundant, clean water is critical to the quality of life in Tennessee, and these low-interest loans will help local communities provide needed infrastructure updates to ensure our supply of water is available for future generations,” said Governor Bill Haslam.

 Tennessee’s Clean Water State Revolving Fund Loan Program has awarded more than $1.9 billion in low-interest loans since its inception in 1987. Tennessee’s Drinking Water State Revolving Fund Loan Program has awarded more than $303.25 million in low-interest loans since its inception in 1996. 

“Clean water is one of our most valuable resources and these loans help ensure communities have the access they need,” said Tennessee Department of Environment and Conservation Commissioner Bob Martineau. 

Through the SRF Program, communities, utility districts, and water and wastewater authorities can obtain loans with lower interest rates than most can obtain through private financing. Interest rates for loans can vary from zero percent to market rate based on each community’s economic index. Loans utilizing EPA grant funds can include a principal forgiveness component. 

TDEC administers the SRF Program in conjunction with the Tennessee Local Development Authority. The U.S. Environmental Protection Agency provides grants to fund the program, and the state provides a 20 percent match. Loan repayments are returned to the program and are used to fund future SRF loans. 

The funding order of projects is determined by the SRF Program’s Priority Ranking Lists that rank potential projects according to the severity of their pollution and/or compliance problems or for the protection of public health. 

Two Wastewater Loans were announced Tuesday for the following recipients: 

City of Chapel Hill (Shelby County) – The city of Chapel Hill will receive $788,750 for a collection System Replacement project. The project will be funded with a 20-year, $709,875 loan with an interest rate of 1.04 percent and $78,875 in principal forgiveness that will not have to be repaid. 

City of Lewisburg (Marshall County) – The city of Lewisburg will receive $1,000,000 for a Wastewater Treatment Plant Improvement project. The project will be funded with a 20-year, $900,000 loan with an interest rate of 1.05 percent and $100,000 in principal forgiveness that will not have to be repaid. 

Three Traditional Wastewater Loans were announced Tuesday for the following recipients: 

City of Cleveland (Bradley County) – The city of Cleveland will receive $10,000,000 for an Infiltration/Inflow Correction project. The project will be funded with a 20-year, $10,000,000 loan with an interest rate of 1.58 percent. 

City of Lewisburg (Marshall County) – The city of Lewisburg will also receive $75,000 for a Wastewater Treatment Plant Improvement project. The project will be funded with a 20-year, $75,000 loan with an interest rate of 1.05 percent. 

City of Memphis (Shelby County) – The city of Memphis will receive $11,000,000 for the T.E. Maxson Wastewater Treatment Plant Headworks Improvements Project. The project will be funded with a 20-year, $11,000,000 loan with an interest rate of 0.81 percent. 

Two Drinking Water Loans were announced today for the following recipient: 

Town of Bell Buckle (Bedford County) – The town of Bell Buckle will receive $294,000 for a Distribution System Water Main line Replacements project. The project will be funded with a 20-year, $235,200 loan with an interest rate of 0.27 percent and $58,800 in principal forgiveness that will not have to be repaid. 

Town of Erwin (Unicoi County) – The town of Erwin will receive $750,000 for a New Water Storage Tank project. The project will be funded with a 20-year, $600,000 loan with an interest rate of 1.10 percent and $150,000 in principal forgiveness that will not have to be repaid. 

Any local government interested in the SRF Loans should contact the State Revolving Fund Loan Program, Tennessee Tower, 12th floor, 312 Rosa L. Parks Ave., Nashville, TN 37243, or call (615) 532-0445. Additional information may be found online at https://www.tn.gov/environment/program-areas/wr-water-resources/water-quality/state-revolving-fund-program.html.



New Hamilton County Businesses

Here are the new business licenses from the County Clerk's website: A HEART WITH A SMILE CHARLOTTE  TOWNSEND 3 PERSONAL CARE   CNA 7011 TYNER RD APT 5 CHATTANOOGA TN 37421 AART AMANDA R ARP 3 ARTIST SELLING ART AT CHATTANOOGA MARKET 838 BELVOIR HILLS DR EAST RIDGE TN 37412 AIR SPECIALIST OF MIDDLE TENN RANDY  LADD 4 INSTALL ... (click for more)

Gas Prices Fall 0.8 Cents In Chattanooga

Gasoline prices in Chattanooga have fallen 0.8 cents per gallon in the past week, averaging $2.47 per gallon on Monday, according to GasBuddy's daily survey of 170 stations in Chattanooga. This compares with the national average that has increased 0.5 cents per gallon versus last week to $2.84/g, according to GasBuddy. Average gasoline prices on September 17 in Chattanooga ... (click for more)

Farrow, Waldens Are Newest Lead Donors For Medal Of Honor Heritage Center Capital Campaign

Officials of the Medal of Honor Heritage Center on Tuesday announced the center has reached a major milestone in its agreement with River City Company to build the new Heritage Center at the former Visitors Center building in the Aquarium Plaza.  This milestone, to raise more than $3 million by the end of 2018, was made possible, in part, by a $250,000 gift from Farrow Family ... (click for more)

2 Bank Tellers Say They Are Positive Walter Rice Was Gunman Who Robbed Hixson Branch

Two tellers from the Hixson branch of the Bank of America testified Tuesday they are positive that Walter Frank Rice is the individual who robbed them at gunpoint last July 25. General Sessions Court Judge Lila Statom bound a bank robbery charge against Rice, 36, of 4734 Sabrina Lane, Hixson, to the Grand Jury. She raised his bond on the bank robbery charge to $250,000, calling ... (click for more)

Arming Teachers With Guns Will Be Too Dangerous

Arming teachers with guns in the classroom, as Bill Lee proposes, would be the single most dangerous thing to happen to students in Tennessee history. Students and teachers in close proximity to loaded firearms daily? Across this state, in middle schools alone, there are probably hundreds of student/teacher conflicts a day. What if a student got hold of gun in a struggle with ... (click for more)

Roy Exum: 2018 Ig Nobel Awards

The word ‘ignobel’ is rarely used because only a few among us know that it means "characterized by baseness, lowness, or meanness." About 30 years ago, a glorious group of great scholars took a literary hatchet to form the word into ‘ig nobel’ so it could be placed in the dictionary as a term that means “a satirical social criticism that identifies absurd research.” Think of ... (click for more)