Pat Quinn, Governor
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Pat Quinn, Governor |
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News Releases - 2003$700,000 Loan Approved For Improvements To Vandalia Drinking Water System
Springfield, Ill. -- Illinois EPA Director Renee Cipriano today announced that a low interest loan in the amount of $700,000 has been approved for the city of Vandalia to help pay for replacing its deteriorating water intake. The loan, issued under the Illinois EPA's revolving loan program, will allow the community to replace the existing raw water intake, located on the Kaskaskia River. The existing intake structure has deteriorated to the point that it must be replaced. The total project is expected to cost $962,940, with construction scheduled to be completed by March 2004. "It is gratifying to be able to offer financial assistance to a community, like Vandalia, which is unable on its own to meet the cost of improvements that will guarantee residents the continued delivery of safe drinking water," Director Cipriano said. The loan is being made from the Illinois Environmental Protection Agency's drinking water revolving loan program that utilizes federal and state funding to provide loans for eligible drinking water treatment projects at half the market interest rate. Interest paid on the 20-year loans is returned to the fund to support low interest loans to other applicants. Director Cipriano noted that 80 percent of the funding for the loan program comes from the federal government and she has urged Illinois' congressional delegation to ensure there is adequate federal funding to continue to assist communities in upgrading this vital infrastructure for the benefit of their citizens and the environment. |
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