ETOWAH, Tenn. — Tennessee has approved two loans totaling $884,000 to enhance the City of Etowah’s water infrastructure.
Etowah will receive a $279,000 loan from the Clean Water State Revolving Fund Loan Program for pump station replacement and improvements. This loan carries a five-year term at 1.46 percent interest, with $139,500 in principal forgiveness. The remaining amount will be repaid as principal.
Additionally, Etowah will benefit from a $605,000 loan for the expansion of a wastewater treatment plant. This loan also has a five-year term at 1.46 percent interest, with $242,000 in principal forgiveness. The balance will be repaid as principal.
The funding, provided through the State Revolving Fund Loan Program, was sanctioned by the Tennessee Local Development Authority.
“Tennessee continues to support infrastructure investments for a growing state, including water quality improvements,” said Governor Bill Lee. “We are pleased these funds will make projects affordable to deliver important resources for Tennesseans across the state.”