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Idaho

DEQ awards $3.2 million low-interest wastewater construction loan to the city of Grace

BOISE, Idaho (KIFI) — The Idaho Department of Environmental Quality (DEQ) announced the award of a $3.2 million low-interest wastewater construction loan to the city of Grace in Caribou County.

The funding will be used to upgrade the treatment system and repair the collection system.

The loan from DEQ’s State Revolving Loan Fund, which is capitalized annually by grants from the US Environmental Protection Agency, carries a simple 1.75% interest rate, is payable over 30 years. The favorable loan terms represent a $196,682 savings to the community when compared to average costs for municipal general obligation debt issuances.

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