District will plan and design drinking water system improvements
JEFFERSON CITY, MO, MAY 16, 2024 – The Missouri Department of Natural Resources has awarded a $278,000 interest-free loan to the Howard County Public Water Supply District No. 2 for planning and design work related to the district’s ongoing drinking water improvement project.
These funds will provide vital interim financing to cover early engineering and administrative costs while the district works to secure a larger loan and grant package from the department for their drinking water project. The larger improvement project is expected to total nearly $2.1 million and construction is estimated to start in 2025.
The early planning phases of infrastructure projects often represent a significant financial burden for cash-limited communities with water and wastewater needs. The Planning and Design Loan Program provides a cost-effective alternative to expensive private financing, allowing communities to complete vital infrastructure projects. These loans bear no interest and come with a five-year term. The funding provided by the department is estimated to save the district’s customers approximately $43,500 in interest over the loan’s five-year term.
“The department is proud to offer funding assistance vehicles that can help qualified communities undertake water and wastewater improvement projects,” said Dru Buntin, director of the Missouri Department of Natural Resources. “We can tailor assistance programs for communities of all sizes so they can improve their treatment systems. This in turn helps protect public and environmental health, and improves the quality of life for Missourians.”
The department’s Drinking Water State Revolving Fund finances improvements to water treatment and distribution systems, water storage and supply facilities, as well as interconnection or consolidation projects. Communities that borrow from the fund benefit from the below-market interest rate and from assistance provided throughout their project by a project manager.
The department’s Financial Assistance Center is committed to working with communities to assist with water and wastewater infrastructure improvement projects. This project will be funded wholly or in part with monies received from the U. S. Environmental Protection Agency.
For more information about drinking water and wastewater funding opportunities, visit dnr.mo.gov/water/business-industry-other-entities/financial-opportunities/financial-assistance-center.