City will plan and design drinking water system improvements
JEFFERSON CITY, MO, AUG. 23, 2024 - The Missouri Department of Natural Resources has awarded a $187,000 loan to the city of Fisk, in Butler County, for planning and design work related to the city’s ongoing drinking water improvement project.
The funding will provide vital interim financing to cover early engineering and administrative costs while the district works with the department to secure a larger loan and grant funding package for its drinking water project. The construction project is expected to cost $2.5 million and is estimated to start in 2025.
The early planning phases of infrastructure projects like Fisk’s often represent a significant financial burden for cash-limited communities with water and wastewater needs. The planning and design loan program’s goal is to provide a cost-effective alternative to expensive private financing that allows communities to develop and deliver vital infrastructure projects for their citizens. These planning and design loans bear no interest and come with a five-year term. The funding provided by the department is estimated to save the city’s ratepayers more than $25,000 in interest costs over the loan’s five-year term.
“We are proud to offer qualified Missouri communities like Fisk funding assistance vehicles that can help them undertake drinking water and wastewater improvement projects,” said Dru Buntin, director of the Department of Natural Resources. “We can tailor assistance programs for cities of all sizes so they can improve their treatment systems. This in turn helps protect public and environmental health, and improves the quality of life for Missourians.”
The department’s Drinking Water State Revolving Fund finances improvements to water treatment plants, distribution systems, water storage and supply facilities, as well as interconnection or consolidation projects. Communities that borrow from the fund benefit from the below-market interest rate and from assistance provided throughout their project from a project manager.
The department’s Financial Assistance Center is committed to working with communities to assist with water and wastewater infrastructure improvement projects. This project will be funded wholly or in part with monies received from the U. S. Environmental Protection Agency.
For more information on wastewater and drinking water funding opportunities, visit dnr.mo.gov/water/business-industry-other-entities/financial-opportunities/financial-assistance-center.