Like puzzle pieces, various projects are coming together in Oak Ridge to create a picture of significant infrastructure improvement.
Starting first with the not-so-glamorous (but vital), Oak Ridge received a $2 million state wastewater loan in 2017 to upgrade and replace about 30,000 linear feet of sewer lines throughout the city. The project is being funded by Tennessee’s Clean Water State Revolving Fund Loan Program, which has awarded $1.7 billion in low-interest loans since it started in 1987.
For Oak Ridge, this 20-year, $1.86 million loan for sewer improvements has a low interest rate of 1.89 percent, far less than the city could have negotiated through private financing.
“The State Revolving Fund Loan Program helps citizens enjoy a better quality of life by assisting communities with current and future infrastructure needs for improved environmental health,” said Tennessee Gov. Bill Haslam at the April 7, 2017 grant announcement.