Des Moines – The Iowa Finance Authority and the Iowa Department of Natural Resources today (Monday) announced that 58 Iowa communities have received a total of more than $171 million in low-interest loans through the State Revolving Fund to assist in advancing water quality projects.  State Revolving Fund Construction Loans are a low-cost construction financing option available for Iowa cities and municipalities for drinking water and wastewater infrastructure. Planning & Design Loans are zero percent loans that assist with the first-phase of project expenses. In the KJAN listening area:

• The City of Lewis was awarded $225,00 for Sewer Planning and Design.
• Council Bluffs Water Works was awarded $5.025-million for Water Transmission Improvements.
• Denison Municipal Utilities was awarded $10.206-million for Sewer Treatment improvements.
• Malvern was awarded $228,000 for Water Planning and Design.
• Manning was awarded $436,000 for Sewer Transmission Improvements.
• Mt. Ayr was awarded $275,000 for Water Transmission Improvements.
• And Winterset was awarded $105,000 for Sewer Planning and Design.

Iowa Finance Authority Interim Executive Director Carolann Jensen said “The State Revolving Fund has loaned more than $3.4 billion to more than 600 Iowa communities to date and we look forward to helping to advance many more water quality improvements.” Iowa Department of Natural Resources Acting Director Bruce Trautman said “The Iowa Department of Natural Resources is proud to partner with the Iowa Finance Authority to provide communities with affordable, accessible financing that will allow them to move pertinent water quality projects forward.”

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 State Revolving Fund has awarded Iowa communities and municipalities with more than $3.4 billion in Construction Loans and more than $198 million through Planning & Design Loans since the program’s inception.  The low-interest loans have saved communities millions of dollars in interest. More information is available IowaSRF.com