INDIANAPOLIS, September 28, 2020— Fort Wayne City Utilities closed a low-interest loan, in the amount of $25,000,000, through the Indiana Finance Authority’s Clean Water State Revolving Fund (SRF) Loan Program to finance improvements to the City’s wastewater treatment systems. By utilizing the SRF Loan Program instead of securing a traditional loan, Fort Wayne will save approximately $4,600,000 dollars in interest costs over the life of the loan.
The SRF Loan Program is administered by the Indiana Finance Authority with joint funding from the U.S. Environmental Protection Agency and the State of Indiana. The project includes sewer system rehabilitation, improvements at the wastewater treatment plant, and further construction related to the 3RPort tunnel including a Deep Dewatering Pump Station. The project allows the City of Fort Wayne to meet the requirements of the City’s CSO Long Term Control Plan which further protects water quality and public health for the residents and businesses in the service area.
SRF Loan Programs operate in all States to provide the resources necessary to maintain and improve the infrastructure that protects our valuable water resources. Communities can get more information about obtaining an SRF loan by contacting Stephanie McFarland at (317) 709-8728, smcfarland@mcfarlandpr.com, or by visiting www.srf.in.gov.