The City of Millen and the City of Vidalia both recently landed loans from the state to assist with major infrastructure improvements. The money comes from the Georgia Environmental Finance Authority (GEFA).
City of Millen
The $1,100,000 Georgia Fund loan will finance installing a new well and an elevated storage tank for the industrial park on the west side of the city. This project will provide infrastructure improvements and enhance the quality of the water for the system. The city will pay 2.56% interest on the 20-year loan. The loan qualifies for a reduced interest rate due to GEFA’s affordability criteria.
City of Vidalia
The $3,000,000 CWSRF loan will finance rehabilitating the city’s wastewater treatment plants and lift stations and installing sewer lines. This project will improve the treatment process and increase system reliability and efficiency. The city will pay 1.57% interest on the 20-year loan. The loan qualifies for a reduced interest rate due to GEFA’s affordability criteria and the city being a PlanFirst Community. The city is eligible for principal forgiveness up to 950,000.
Eleven other communities were awarded financing totaling $87,441,000 for water, sewer, and wastewater projects by the Georgia Environmental Finance Authority (GEFA) board of directors.
Other Loans:
- Blakely awarded a $1,680,000 Drinking Water State Revolving Fund (DWSRF) conservation loan
- Columbus Water Works awarded a $7,526,000 Clean Water State Revolving Fund (CWSRF) loan
- Douglas awarded a $3,000,000 CWSRF loan and a $2,000,000 DWSRF loan
- Georgetown-Quitman County awarded a $767,000 DWSRF conservation loan
- Harris County Board of Commissioners awarded a $5,250,000 DWSRF loan
- Henry County Water Authority awarded a $50,000,000 CWSRF loan
- LaFayette awarded a $1,350,000 CWSRF conservation loan
- Lavonia awarded a $2,500,000 DWSRF loan
- Lumpkin awarded a $378,000 DWSRF conservation loan
- Talbot County Board of Commissioners awarded a $1,000,000 DWSRF conservation loan
- Thomasville awarded a $789,000 CWSRF loan
Other GEFA board actions:
Georgia Outdoor Stewardship Program
The board approved the establishment of a Georgia Fund One Plus investment account to maximize return of funds invested on behalf of the Georgia Outdoor Stewardship Program (GOSP), which is managed in conjunction with the Georgia Department of Natural Resources. The GOSP board of trustees unanimously approved the measure on October 11, 2022.
Banks County Board of Commissioners
The board approved a $17,500,000 increase to a CWSRF conservation loan originally approved in January 2022. This increase will have an interest rate of 3.39% for 30 years.
Columbus Water Works
The board approved a $8,869,800 increase to a CWSRF loan originally approved in November 2020. This increase will have an interest rate of 1.84% for 20 years.
The board approved a $11,230,200 increase to a CWSRF loan originally approved in January 2021. This increase will have an interest rate of 1.84% for 20 years.
City of Lookout Mountain Â
The board approved a $607,103 increase to a CWSRF conservation loan originally approved in May 2022. This increase will have an interest rate of 2.73% for 20 years.
Newton County
The board approved a $10,000,000 increase to a DWSRF loan originally approved in January 2021. This increase will have an interest rate of 2.41% for 30 years.
City of Porterdale
The board approved a $782,000 increase to a CWSRF loan originally approved in May 2018. This increase will have an interest rate of 1.25% for 20 years.
