Governor Lee and TDEC Announce $1.76 Million Loan for Smyrna Water Improvements
Smyrna, TN) Gov. Bill Lee and Commissioner David Salyers of the Tennessee Department of Environment and Conservation (TDEC) today announced a $1.76 million loan for the Town of Smyrna to improve water infrastructure.
The loan is one of seven approved by the Tennessee Local Development Authority, with five loans for the Hamilton County Water and Wastewater Treatment Authority and one loan for the Town of Trezevant totaling $3.7 million.
“We are pleased we can assist communities with these loans as they make infrastructure more affordable,” Lee said. “It is important that Tennesseans receive reliable services, and we are grateful to the local officials working to provide them.”
“Water infrastructure is crucial,” Salyers said. “We are glad we can make these loans available, and we look forward to the results that will come from this assistance.”
The loan for the Town of Smyrna comes from the Clean Water State Revolving Fund Loan Program. The loan addresses improvements to the wastewater collection system and has a five-year term at 1.21 percent interest.
Through the State Revolving Fund Loan Program, communities, utility districts, and water and wastewater authorities can obtain loans with lower interest rates than through private financing. These low interest rate loans can vary from zero percent to below market rate, based on each community’s economic health.
