They city of Walthourville will receive a $627,100 loan to finance its water-system infrastructure, according to Georgia Environmental Finance Authority Executive Director Kevin Clark.
The loan, which comes from the Drinking Water State Revolving Fund, was approved by the GEFA board of directors. It will finance the replacement of 1,700 residential water meters and 12 larger meters with radio-read meters. Walthourville Mayor Daisy Pray said the loan also will allow the city to provide more information to water customers about their bills.
“We’re very excited about this. It’s of great importance because now we’ll have answers for our customers when they have questions about their water bills,” Pray said.
According to the mayor, the funds will allow the city to put together periodic reports about water usage. The reports, which will include information about the dates and times of water-usage spikes, will be available for water customers to view at Walthourville City Hall, Pray said, although the city will not mail individual copies of the report to each resident.
The city of Walthourville will pay 2 percent interest on the 20-year loan of $627,100, with principal forgiveness of up to $313,550 if all loan funds are drawn. The city received a 1 percent interest rate reduction and the principal forgiveness because the project will help conserve water.
“GEFA’s water and sewer programs assist local governments with improving their environmental infrastructure,” Clark said. “As part of the drinking-water program, cities and counties can improve the environment through affordable financing for water-conservation projects.”
Clark thanked Gov. Nathan Deal, state Sens. Buddy Carter, R-Pooler, and Tommie Williams, R-Lyons, and state Rep. Al Williams, D-Midway, for their support. He credited the state’s commitment to helping cities and counties finance infrastructure development as one of the main contributors to GEFA’s success.
The DWSRF is a federal loan program administered by GEFA for drinking-water infrastructure projects. During the past five years, GEFA has provided more than $30 million in low-interest financing for water-efficiency and conservation projects. Cities and counties interested in more information regarding the DWSRF should go to www.gefa.org or call 404-584-1000.