The Village of Shabbona in DeKalb County recently was awarded a $1 million forgivable loan from the Illinois Environmental Protection Agency for a new water treatment plant, according to a news release.
The village was approved for a loan amount of $1,801,543.34, with principal forgiveness of $400,000, the release said.
“The village will construct a new water treatment plant and improve the water distribution system to maintain compliance with state and federal regulations,” state officials said in the release.
In the first quarter of fiscal year 2022, which runs from July to September, the IEPA issued more than $29 million in water infrastructure loans to seven local governments and sanitary districts, according to the release. These low-interest loans are made possible through Illinois EPA’s State Revolving Fund program, which provides funding for wastewater, stormwater and drinking water projects.
“Every community in Illinois should be equipped with clean drinking water, as well as functional wastewater infrastructure to protect homes and businesses from flooding,” Illinois Gov. JB Pritzker said in the release. “Thanks to the Rebuild Illinois capital plan, millions of dollars are being invested in communities across the state to make that goal a reality.”
Projects funded in fiscal year 2022 receive an interest rate of 1.11% for both wastewater and drinking water loans, according to the release.
Source: The Daily Chronicle