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Newsroom

City of Richmond Closes State Revolving Fund Loan

 

 

 INDIANAPOLIS, November 2017 —The City of Richmond closed a low-interest loan, in the amount of 11,555,000, through the Indiana Finance Authority’s Clean Water State Revolving Fund Loan Program to finance improvements to the District’s wastewater treatment system. By utilizing the SRF Loan Program instead of securing a traditional loan, Richmond will save approximately $2,000,000 dollars over the term of the loan. 

The SRF Loan Program is administered by the Indiana Finance Authority with joint funding from the U.S. Environmental Protection Agency and the State of Indiana. The project will replace significant portions of the City’s deteriorated and undersized northwest 13th Street interceptor with larger interceptor sewers, along with expanding the capacity of the existing Round Barn Siphon. The project will allow the City of Richmond to continue to meet environmental permit limits and further protect water quality and public health for residents and businesses in the Richmond service area. 

SRF Loan Programs operate in all States to provide the resources necessary to maintain and improve the infrastructure that protects our valuable water resources. Communities can get more information about obtaining an SRF loan by contacting Stephanie McFarland at (317) 709-8728, smcfarland@mcfarlandpr.comwww.srf.in.gov. , or by visiting