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Western Lake Superior Sanitary District Receives Low-interest Financing for Wastewater InfrastructureST. PAUL -- Citizens who live in the Western Lake Superior Sanitary District will have improved wastewater treatment, a cleaner environment and lower financing costs, thanks to a low-interest clean water loan of about $2.6 million. The loan was provided by the Minnesota Public Facilities Authority (PFA). About $2.1 million will be used to improve the main wastewater treatment plant facility, and the remainder of the PFA loan will be used to rehabilitate a main sewer pipe, carrying wastewater from the area surrounding the cities of Scanlon and Cloquet to the treatment facility. Area ratepayers can expect to receive savings of $317, 244 on debt service costs, compared to borrowing at market rates. The interest rate for the $2.6 million PFA loan is 2.611 percent for a 15-year term. The PFA, an independent infrastructure financing authority, joined with the Minnesota Pollution Control Agency (MPCA) in announcing the loans. "Adequate wastewater treatment is a key part of keeping the city healthy and economically vital," said PFA Chair Dan McElroy. "And the substantial interest savings are an added economic benefit to taxpayers and ratepayers." "Low-interest and no-interest loans are a wise use of state dollars. They will protect the environment while providing improved services that promote a strong economy," MPCA Commissioner Brad Moore said. Caroline Clement, sanitary district project engineer, said the projects will rehabilitate the existing pipeline to maintain the integrity of the system, prevent failure and enable the district to continue to meet its permit requirements for effluent discharge. The Western Lake Superior Sanitary District is located in Carlton and St. Louis Counties. The District’s wastewater treatment and collection system serves more than 125,000 people. The PFA, created by the Legislature in 1987, has financed more than $2.5 billion in infrastructure projects. The PFA operates three revolving loan funds for infrastructure projects, including the Drinking Water Revolving Fund, Clean Water Revolving Fund and Transportation Revolving Loan Fund. Upon request, the information in this news release is available in an alternative format |
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