Friday, December 15, 2017

Idaho DEQ awards $499,000 low-interest loan for Ketchum drinking water project

The Idaho Department of Environmental Quality (DEQ) recently awarded Idaho's Blaine County’s Ketchum with a $499,000 low-interest drinking water construction loan for development that will expand the city’s water service.

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.

Organizations in this story

Idaho Department of Environmental Quality 1445 N. Orchard St. Boise, ID - 83706

U.S. Environmental Protection Agency (EPA) 1200 Pennsylvania Ave NW Washington, DC - 20460

Get notified the next time we write about any of these organizations