The City of Albany has been awarded a $15 million loan for sewer system infrastructure, as part of an Energy conservation project that qualifies for an interest rate reduction
Clean Water State Revolving Fund (CWSRF) loan was approved Monday by the Georgia Environmental Finance Authority (GEFA) board of directors.
The loan will finance rehabilitating the westside and eastside interceptor sewers to prevent line failures of the reinforced concrete pipe and to prevent spills into the Flint River.
The city will pay six-tenths of one percent interest on the 15-year loan, which will finance a conservation project, which qualifies for the reduced interest rate.
"GEFA’s loan programs assist local governments with improving their environmental infrastructure. As part of the Clean Water program, cities and counties can also receive affordable financing for energy conservation projects," said GEFA Executive Director Kevin Clark.
Albany Engineer Bruce Maples will be directly involved in the implementation of the sewer improvement project. Some of Albany's sewers are well over 100 years old, and have been in deteriorated condition for many years.
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