MEMPHIS, Tenn. (WMC) - The City of Memphis has been given a multi-million dollar loan to address the water infrastructure in the city.
Tennessee Gov. Bill Lee and the Tennessee Department of Environment and Conservation (TDEC) Commissioner David Salyers announced the $48 million loan Monday morning.
"Clean water infrastructure is vitally important to residents, businesses, protecting the integrity of our environment, protecting and safeguarding the health of our communities,” TDEC State Revolving Fund Director Leslie Gillespie-Marthaler.
The Clean Water State Revolving Fund loan will address wastewater treatment plant improvement and upgrades to the T.E. Maxson Wastewater Treatment Facility. This is a 20-year term at 0.47 percent interest loan.
The plant currently treats an average of 70 million gallons of wastewater per day through a six-step treatment plant process.
"That would include improvements to their clarifiers, improvements to a pump station, electrical improvements, improvements to odor control plant wide,” said Gillespie-Marthaler.
Official documents explained this loan is one of a group of loans approved by the Tennessee Local Development Authority that covers Johnson City, Lebanon, and Memphis - totaling $68.7 million.
City of Memphis Public Works Director Robert Knecht issued this statement to WMC:
“The City of Memphis appreciates this recent funding authorization in the form of a State Revolving Fund (SRF) loan from TDEC which will ensure that all the funding needed to support the TE Maxon Wastewater Treatment Plant (WWTP) upgrades and modernization project. Early this year the City of Memphis was also fortunate to be selected for a Water Infrastructure Finance and Innovation Act (WIFIA) loan from the EPA that will be used to fund 49% of the total project cost. The remaining 51% in funding will be contributed from this TDEC SRF loan along with City of Memphis Sewer funds. The total project costs for the TE Maxson project is approximately $300M.”