Blackfoot receives loan for wastewater improvements

The city of Blackfoot has received an $11,248,570 low-interest loan to repair and replace part of its wastewater system. The project will include aeration, clarification, digestion, disinfection, conveyance, and preliminary treatment, and a new sewer intercept line. The funding comes from the Idaho Department of Environmental Quality’s revolving loan fund. The fund is capitalized by the federal Environmental Protection Agency. Blackfoot will pay a simple 2.75 percent interest rate over 20 years. The favorable loan terms will save the community approximately $2,745,000 when compared to the average cost of municipal general obligation debt issuances.