ATLANTA – Midway, Georgia, received a loan of US $ 1,217,000 from the Georgia Environmental Finance Authority (GEFA) Board of Directors from the State Drinking Water Revolving Fund (DWSRF).
The loan will be used to build a new well. The current water supply of the city consists of one well, which is 40 years old. This design will solve low pressure problems and provide reliability and redundancy.
On a 20-year loan, the city will pay 1.04% per annum. The loan is eligible for a reduced interest rate because part of this project is environmental activity.
DWSRF provides low-interest loans for infrastructure projects that provide safe and affordable drinking water. These projects conserve and improve water resources and contribute to economic development. The program is co-funded by the US Environmental Protection Agency and the State of Georgia.
GEFA offers a reduced interest rate for energy efficiency and renewable energy projects in water and wastewater treatment plants, landfills and municipal solid waste disposal plants; water conservation projects in the areas of water loss and end-user water use efficiency; and non-point source pollution control projects.