Des Moines – The Iowa Finance Authority and the Iowa Department of Natural Resources recently announced that 41 Iowa communities have received low-interest water quality loans totaling more than $123 million through the State Revolving Fund.  State Revolving Fund Construction Loans are a low-cost construction financing option available for Iowa cities and municipalities for water quality initiatives. Planning & Design Loans are zero percent loans that assist with the first phase of project expenses. Locally: the City of Anita received a $520,000 loan for Sewer Planning and Design. Jamaica, in Guthrie County, received a $375,000 loan for Water Planning and Design; Kiron, in Crawford County received a $305,000 loan for Water Transmission Improvements; and, the City of Early in Sac County received a $515,000 SRF loan for Water Planning and Design.

Iowa Finance Authority Executive Director Debi Durham says “Reliable water infrastructure is essential for Iowa families, businesses and communities alike. The State Revolving Fund has helped more than 600 Iowa communities invest in more than 2,000 water quality initiatives to date and is available to help many more.”

Iowa communities and municipalities have received a total of nearly $3.3 billion in Construction Loans and more than $240 million in Planning & Design Loans since the program’s inception. The U.S. Environmental Protection Agency provides annual capitalization grants to states. Leveraged bonds and loan repayments expand the reach of the federal investment. More than $3 in assistance has been leveraged for Iowa water quality projects for every $1 of federal funds. More information is available at IowaSRF.com.