Smyrna to receive $ 20.2 million in water improvement loans
SMYRNA, Tennessee (WTVF) – Governor Bill Lee and Tennessee Department of Environment and Conservation (TDEC) Commissioner David Salyers have announced two loans to improve Smyrna’s water infrastructure.
The loans total $ 20.2 million. They are among three approved by the Tennessee Local Development Authority, with a loan of $ 300,000 for the Arthur Shawanee Utility District in Harrogate.
“These loans go a long way to meeting the needs of communities across our state,” Lee said in a press release. “Tennesseans deserve reliable infrastructure, and the state’s revolving fund loan program is a great way to meet that need.”
“We are pleased to be able to provide these loans,” Salyers said in the statement. “They make investments in local communities affordable and pave the way for environmental responsibility.”
A $ 17.2 million loan to Smyrna comes from the Clean Water Revolving Fund loan program and will improve the wastewater treatment system. The loan has a term of 30 years at 0.9% interest.
Smyrna is also receiving a $ 3 million loan from the state revolving fund’s loan program for drinking water. It will focus on improvements to the water distribution system. The loan has a term of 20 years at an interest rate of 0.68%.