$7.5 Million Loan Approved for Carol Stream Waste Treatment
Plant Expansion, Improvement
For Immediate Release
August 19, 2002 |
Contact: Joan Muraro
217-785-7209
TDD: 217-782-9143 |
Springfield, Ill. -- A low interest loan of $7,550,954 has been
approved for the village of Carol Stream, to upgrade and expand the village's
current wastewater treatment facilities. The funding, from the Illinois
Environmental Protection Agency's revolving loan fund, will allow the
DuPage County community to replace outdated equipment that is subject
to breakdown and costly to repair. It will also allow the plant to adequately
handle projected growth wihin its service area.
"Renovation of antiquated infrastructure can be a major problem for
smaller communities. This loan interest loan will help Carol Stream continue
to provide a healthful environment for its citizens at an affordable rate
of interest," said Renee Cipriano, IEPA director.
The money is being made available from the Illinois Environmental Protection
Agency's Wastewater Revolving Fund, which uses a mix of federal and state
dollars to make loans at half the current bond market interest rate to
communities to improve wastewater treatment capabilities. Money repaid
on the 20-year low interest loans is returned to the fund to support new
loan applications. More than $7 billion has been invested in sewage systems
and treatment works since the program began in 1989.
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