Teton Reserve awarded low-interest construction loan

The Teton Reserve Homeowner’s Association in Teton County, Idaho has been awarded a $980,000 low-interest drinking water construction loan.

The Idaho Department of Environmental Quality said the funds will be used to install two wells and associated pumps.

Teton Reserve qualified for the help because the annual cost of drinking water service for residential customers exceeds one and one-half percent of the median household income. The Homeowners’ Association qualified for a disadvantaged loan, which carries favorable repayment terms.

The loan comes from the DEQ’s State Revolving Loan Fund, which is capitalized annually by grants from the Environmental Protection Agency.

The favorable loan terms represent a $555,610 savings to the community when compared to average costs for municipal general obligation debt.