(DES MOINES) The Iowa Finance Authority recently approved a combined total of more than $1.8 million in low-cost water quality loans for projects in Cumberland, Lansing, Manchester and Reasnor. The financing is made available through State Revolving Fund Construction Loans, which offer three percent interest rates. The State Revolving Fund is a partnership between the Iowa Finance Authority and the Iowa Department of Natural Resources.
The City of Cumberland will receive a $100,000 construction loan for sanitary sewer improvements. These improvements include the relining of 6,200 feet of sewer main, system point repairs and utility hole adjusting and sealing. The estimated completion date of these projects is spring 2012.
Construction Loans are made available as part of the State Revolving Fund. More information is available at: www.IowaSRF.com.