PFA approves $7.3 million for Greater Minnesota water projects
Published 10:56 pm Friday, October 5, 2018
The Minnesota Public Facilities Authority approved $7.3 million in grants and loans for water and sewer projects. Funding for projects in Alden, Two Harbors, Hoyt Lakes, Erskine and Willmar was approved.
“Communities across Minnesota face serious water-quality challenges,” said Gov. Mark Dayton. “This funding supports improvements that will give residents of Alden, Two Harbors, Hoyt Lakes, Erskine and Willmar access to the clean drinking water they deserve.”
“Minnesota communities are utilizing PFA programs to address their water and sewage infrastructure needs,” said Shawntera Hardy, PFA board chair and commissioner of the Minnesota Department of Employment and Economic Development. “These projects are a good investment that will benefit residents and local businesses now and in the future.”
Alden was awarded a loan to construct an addition to the existing water treatment plant, repair one of the wells and install water meters. The $1.81 million loan comes from the Drinking Water Revolving Fund. The loan has a 1 percent interest rate over 20 years and is expected to save $328,641 when compared to the cost of conventional loans.
“I’m thrilled to see this loan help the city of Alden save over $300,000 on this important water project,” said Rep. Peggy Bennett, R-Albert Lea. “Continued access to clean drinking water is so important in our area, and this loan will go a long way in maintaining this standard for Alden residents.”