The Missouri Department of Natural Resources’ Financial Assistance Center invites communities to attend an information webinar and to apply for below-market rate financing for capital projects through the Clean Water State Revolving Fund and Drinking Water State Revolving Fund programs.
State Revolving Fund (SRF) applications submitted by March 1, 2023, will receive top priority for loan financing and grant funding during the next fiscal year.
The Clean Water SRF loan program provides low-interest financing to construct projects that improve water quality. Political subdivisions of the state may apply for financing for wastewater treatment plant and collection system improvements, sewer line extensions, combined sewer overflow corrections, system security, nonpoint source projects, and measures to manage, reduce, treat, reuse, or recapture stormwater.
The Drinking Water SRF loan program provides low-interest financing to construct drinking water projects that protect public health. Political subdivisions, not-for-profit corporations that provide a regional water supply, and investor-owned water utility corporations may apply for financing for a variety of projects. These can include drinking water treatment plant and distribution system improvements, storage facilities, system security, source intake structures, and wells.
Both SRF programs offer a subsidized interest rate of 70 percent below the market rate. The standard loan term is 20 years; however, extended terms up to 30 years may be available.
The interest savings offered to participants and their ratepayers is substantial. For example, a recent $5 million loan saved the community more than $1 million in interest compared to the market rate. SRF borrowers benefit from low interest rates and also receive personalized assistance from a dedicated department project management team.
For more information about SRF funding, contact the department’s Financial Assistance Center at 573-751-1192, fac@dnr.mo.gov, or visit Financial Assistance Center | Missouri Department of Natural Resources (mo.gov).
A webinar is scheduled at 11 a.m. January 9, 2023. Webinar details can be found here.