December 15, 2015

Des Moines – Fifteen Iowa cities will benefit from a combined total of more than $9.1 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 provided low-cost financing for water quality infrastructure improvements benefiting one million Iowans in last fiscal year alone.” said Iowa Finance Authority Executive Director Dave Jamison. “The fifteen Iowa cities that most recently received low-cost financing join more than 500 other Iowa cities in recognizing the State Revolving Fund as their best choice for financing of their water quality initiatives.”
 
“Quality water is fundamental to protecting Iowans’ health as well as Iowa’s natural resources,” said Iowa Department of Natural Resources Director Chuck Gipp. “The State Revolving Fund is an important resource for Iowa communities as they face a wide-array of water quality improvement needs.”
 
The State Revolving Fund has awarded Iowa communities and municipalities more than $2.5 billion in Construction Loans and $130 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 $3.00 in assistance has been leveraged for Iowa water quality projects for every $1.00 of federal funds.
 
 
The Iowa Legislature created The Iowa Finance Authority in 1975 to undertake programs to assist in the attainment of 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

Newhall

Benton

$2,671,000

Sewer Treatment Improvements

Keri Touro: 319-223-5709

Aplington

Butler

$1,020,000

Drinking Water Storage

Deb Prier: 319-347-2425

Granger

Dallas, Polk

$406,000

Storm Water Runoff, Stream Restoration, Sponsored Project

Kristy Trzeciak: 515-999-2210

Ryan

Delaware

$282,000

Drinking Water Well

Natalie Tucker: 563-932-2051

Wahpeton

Dickinson

$107,500

Drinking Water - Planning & Design

Bonnie Roberts: 712-337-3522

Dike

Grundy

$200,000

Sewer - Planning & Design

Patti Freese: 319-989-2291

Little Sioux

Harrison

$102,000

Drinking Water Treatment Improvements

DeEtte West: 712-649-2211

Spragueville

Jackson

$250,000

Sewer Treatment Improvements

Elizabeth Portz: 563-689-6162

Letts

Louisa

$600,000

Sewer Infiltration & Inflow Corrections

Karen Koope: 319-726-3251

Winterset

Madison

$1,400,000

Sewer Treatment Improvements

Mark Nitchals: 515-462-1422

Osage

Mitchell

$96,500

Sewer - Planning & Design

Cathy Penney: 641-732-3709

Harris

Osceola

$192,000

Sewer - Planning & Design

Holly Wilson: 712-832-0094

Underwood

Pottawattamie

$313,000

Sewer Lift Station & Force Main

Jill Willard: 712-566-2373

Tama

Tama

$1,037,000

Sewer Infiltration & Inflow Corrections

Judy Welch: 641-484-3822

Blakesburg

Wapello

$450,000

Sewer Infiltration & Inflow Corrections

Roberta Leffler: 641-938-2413

   

$9,127,000

   

 

For More Information:
Ashley Jared
515.725.4934