Good news for infrastructure and the funding of projects in Michigan.
On September 27, 2012, the DEQ announced nearly $93 million in loans and more than $8.55 million in principal loan forgiveness to fund wastewater or drinking water projects needed to improve water quality and public health around the state.
The Clean Water State Revolving Fund and the Strategic Water Quality Initiatives Fund provide low-interest loan financing for necessary wastewater facility improvements. The Drinking Water Revolving Fund provides low-interest loan financing for necessary public drinking water facility improvements.
With interest rates below what is otherwise available in the open market, funding infrastructure projects through the revolving loan programs allows recipients to pass the savings along to the customer base of their wastewater or drinking water systems.
Click here for the local units of government receiving SRF, SWQIF and DWRF loan assistance.