City will plan and design drinking water system improvements
JEFFERSON CITY, MO, SEPT. 24, 2024 - The Missouri Department of Natural Resources has awarded a $536,000 loan to the city of Granby in Newton County for planning and design work related to the city’s ongoing drinking water improvement project.
The loan will provide vital interim financing to cover early engineering and administrative costs while the city works with the department to secure a larger funding package for the drinking water project. The improvement project is expected to total $8.9 million and construction should start in 2025.
The early planning phases of infrastructure projects often represent a significant financial burden for cash-limited communities with water and wastewater needs. The planning and design loan program is designed to provide a cost-effective alternative to expensive private financing that allows Missouri communities to develop and deliver crucial infrastructure projects for their citizens. These loans bear no interest and come with a five-year term. This loan is estimated to save the city’s ratepayers approximately $74,400 in interest.
“One of our priorities is helping Missouri communities improve their water and wastewater treatment systems,” said Dru Buntin, director of the Department of Natural Resources. “One way we do that is by offering a variety of financial assistance programs through which qualified communities can upgrade key infrastructure, which improves the quality of life for Missourians.”
The department’s Drinking Water State Revolving Fund finances improvements to water treatment plants, distribution systems and 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 is committed to assisting Missouri communities with water and wastewater infrastructure improvement projects. Through its Financial Assistance Center, the department provides funding opportunities for qualified communities with water quality, wastewater and drinking water infrastructure needs. 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/what-were-doing/state-revolving-fund-srf.