December 31, 2015

Des Moines – Fifteen water quality projects will benefit from a combined total of more than $20.7 million in low-cost water quality loans through the State Revolving Fund. State Revolving Fund Construction Loans are a low-cost construction financing option available for Iowa cities and municipalities for water quality initiatives. Planning & Design Loans are zero percent loans that assist with the first-phase of project expenses. The Iowa Finance Authority and the Iowa Department of Natural Resources jointly administer the State Revolving Fund in Iowa.

“The State Revolving Fund provides Iowa cities and municipalities with vital financing to move needed water quality projects forward,” said Iowa Finance Authority Executive Director Dave Jamison. “The State Revolving Fund provided low-cost financing for water quality infrastructure improvements benefiting one million Iowans in last fiscal year alone.”

“The State Revolving Fund is an important resource for Iowa communities as they face a wide-array of water quality improvement needs,” said Iowa Department of Natural Resources Director Chuck Gipp. “The recent awardees join more than 500 other Iowa cities in recognizing the State Revolving Fund as their best choice for financing of their water quality initiatives.”

The State Revolving Fund has awarded Iowa communities and municipalities more than $2.5 billion in Construction Loans and nearly $150 million through Planning & Design Loans since the program’s inception.

The U.S. Environmental Protection Agency provides annual capitalization grants to states. Leveraged bonds and loan repayments expand the reach of the federal investment. More than $3 in assistance has been leveraged for Iowa water quality projects for every $1 of federal funds.

 

The Iowa Legislature created The Iowa Finance Authority in 1975 to undertake programs to assist low- and moderate-income Iowans. IFA also administers the State Revolving Fund (SRF) in partnership with the Iowa Department of Natural Resources. The SRF assists communities with the costs of upgrading or constructing local wastewater and drinking water infrastructure projects.

 
 
Recent loan recipients:
 
Loan Recipient
County
Amount
Project Type
Contact
Adel
Dallas
$300,000
Sewer - Planning & Design
Anthony Brown: 515-993-4525
Alta Municipal Utilities
Buena Vista
$363,480
Drinking Water - Planning & Design
Randy Tilk: 712-200-1122
Arlington
Fayette
$335,000
Sewer Infiltration & Inflow Corrections
Mary Jo Brown: 563-633-2345
Burlington
Des Moines
$908,000
Sewer CSO Elimination
Charlie Nichols: 319-753-8130
Cincinnati
Appanoose
$405,000
Sewer - Planning & Design
Melissa McIntire: 641-658-2666
Cushing
Woodbury
$80,500
Drinking Water - Planning & Design
LeeNette Wiese: 712-384-2189
Davenport
Scott
$495,000
Storm Water Runoff, Permeable Paving, Sponsored Project
Brian Stineman: 563-888-2173
Farmington
Van Buren
$100,000
Drinking Water - Planning & Design
Becky Fry: 319-878-3711
Fort Atkinson
Winneshiek
$82,000
Sewer - Planning & Design
Joyce Bakewell: 563-534-3029
Fort Madison
Lee
$1,978,000
Sewer Treatment Improvements
Melinda Blind: 319-372-7700
Lenox
Taylor
$150,000
Sewer - Planning & Design
Tia Samo: 641-333-2228
Spencer Municipal Utilities
Clay
$14,125,000
Drinking Water Treatment Improvements
Steven Pick: 712-580-5800
Strawberry Point
Clayton
$77,000
Sewer - Planning & Design
Elizabeth Jaster: 563-933-4482
Tiffin
Johnson
$400,000
Sewer - Planning & Design
Doug Boldt: 319-545-2572
Winneshiek County
Winneshiek
$910,000
Drinking Water - New System
John Beard: 563-382-2370
$20,708,980
For More Information:

Ashley Jared
515.745.4934