Fremont County Water Association Wins Water Grant
Hidden Estates Water Association in Fremont County has won a $200,000 construction loan to help pay for infrastructure improvements.
The Idaho Department of Environmental Quality says the interest-free funding is intended to help develop a new well, install a water flow meter and install a variable frequency drive for the new well.
Funded by the DEQ’s State Revolving Loan Fund will be provided at 0 percent interest over 30 years. The agency will also forgive more than $23,000 in principal. Because the annual cost of drinking water service for Hidden Estates customers exceeds 1.5 percent of the median household income, the association qualified for a disadvantaged loan.
The favorable loan terms represent savings of $151,716 when compared to average costs for municipal general obligation debt issuances.
