Twenty-nine Iowa cities will benefit from a combined total of more than $33.7 million in low-cost water quality loans through the State Revolving Fund.Among them is the City of Cumberland, which is receiving $396,000 for a drinking water construction project. And, the City of Elliott is receiving $250,000 for a Clean Water construction project

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.

Iowa Finance Authority Executive Director Dave Jamison said “More than 500 Iowa communities have recognized the State Revolving Fund as their best choice for low-cost financing of their water quality initiatives.” Iowa Department of Natural Resources Director Chuck Gipp said “The State Revolving Fund is an important resource for Iowa communities as they face a wide-array of water quality improvement needs. Quality water costs money, and the State Revolving Fund helps make the investment in Iowa’s water more affordable for communities.”

The State Revolving Fund has awarded Iowa communities and municipalities more than $2.1 billion in Construction Loans and $130 million through Planning & Design Loans since program inception. The loans are made available as part of the State Revolving Fund. For more information on Planning & Design Loans, as well as other State Revolving Fund programs, visit IowaSRF.com.