Idaho DEQ awards $499,000 low-interest loan for Ketchum drinking water project
The funding, which comes from the department’s State Revolving Loan Fund, will be used throughout the planning, design and construction phases of a project that will convert 200 water connections onto the city’s service. It will also cover the installation of water meters at each of the new connections. Using the loan, Ketchum will be able to replace some areas of deteriorating distribution piping.
Ketchum’s loan is payable over 20 years, with a low interest rate of 2.75 percent. Compared to standard costs for municipal general obligation debt issuances, the loan will save Ketchum approximately $121,771. The State Revolving Loan Fund is maintained each year through grants from the Environmental Protection Agency.