BUAZ, Idaho (KIFI) – The Idaho Department of Environmental Quality (DEQ) has announced a $ 3.2 million low interest wastewater construction loan to the City of Grace in Caribou County.
Funding will be used to modernize the cleaning system and repair the collection system.
The DEQ State Revolving Loan Fund, which is capitalized annually with US EPA grants, has a simple interest rate of 1.75% and is repayable over 30 years. The favorable loan terms represent a $ 196,682 savings to the community over the average cost of issuing municipal debt with general obligations.
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