PlanFirst Community qualifies for interest rate reduction
The City of Swainsboro was awarded a $2,793,350 Drinking Water State Revolving Fund loan by the Georgia Environmental Finance Authority (GEFA) board of directors.
The loan will finance installing an advanced metering infrastructure (AMI) system and creating a new GIS database. This project will reduce leaks, increase billing accuracy, and improve water quality.
The city will pay 0.79% on the 10-year loan. The loan qualifies for a reduced interest rate because the city meets GEFA’s affordability criteria, is a PlanFirst Community, and the project includes conservation activities. The city is eligible for principal forgiveness up to $500,000.
The DWSRF provides low-interest loans for infrastructure projects that deliver safe, affordable drinking water. These projects conserve and improve water resources and facilitate economic development. The program is jointly funded by the U.S. Environmental Protection Agency and the state of Georgia.
GEFA offers a reduced interest rate for energy efficiency and renewable energy projects at water and wastewater treatment plants, landfills, and municipal solid waste facilities; water conservation projects in the areas of water loss and end-use water efficiency; and nonpoint source pollution control projects.
About the Georgia Environmental Finance Authority (gefa.georgia.gov):
The Georgia Environmental Finance Authority (GEFA), headquartered in Atlanta, provides financing for a variety of energy, land, and water projects. Since 1986, GEFA has approved financial commitments totaling almost $6 billion to local governments, businesses, and nonprofit organizations. For more information, visit gefa.georgia.gov, Facebook, Instagram, X, LinkedIn, or YouTube.
