Carthage, Tenn., gets $2.7 million loan for water system upgrades
(UI) — The Town of Carthage has secured a $2.7 million loan to improve its water infrastructure, Gov. Bill Lee and Tennessee Department of Environment and Conservation (TDEC) Commissioner David Salyers announced.
The loan, approved by the Tennessee Local Development Authority, comes from the Clean Water State Revolving Fund Loan Program and will support infiltration and inflow corrections. It has a 20-year term at a 2.63% interest rate, with $540,000 in principal forgiveness.
“Tennessee continues to support infrastructure investments for a growing state, including water quality improvements,” Lee said. “We are pleased these funds will make projects affordable to deliver important resources for Tennesseans across the state.”
“Quality water infrastructure is crucial for a community,” Salyers said. “This program provides financial assistance for local leaders to meet a demand that might be difficult to achieve otherwise. We are glad we can assist with this excellent program.”
So far this fiscal year, TDEC has awarded nearly $39 million in drinking water loans and $75 million in clean water loans. In 2024, the agency provided $139 million in funding for water infrastructure projects.
Since its inception, Tennessee’s Clean Water State Revolving Fund Loan Program has issued over $2 billion in low-interest loans, while the Drinking Water State Revolving Fund Loan Program has provided more than $300 million.
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