ST. PAUL – State Rep. Dean Urdahl, R-Acton Township, announces the Minnesota Public Facilities Authority has approved the city of Watkins for nearly $1.7 million in state financing to complete replacement of the city’s main sanitary sewer lift station.
The funding is provided through a 20-year loan at less than 2 percent interest. The PFA estimates the loan’s favorable terms will save local taxpayers nearly $300,000 in interest costs compared with market rates.
“Congratulations to officials and residents of Watkins for securing this funding, and for their commitment to improving the city’s wastewater infrastructure,” Urdahl said. “This award will help to ensure this essential project is completed and ease the burden on taxpayers in the process, a win-win for local residents. It is crucial to maintain our local infrastructure and I worked hard to make sure additional funding for sewer and water work was included in this year’s bonding bill. It is good to see local residents will benefit.”
More PFA information is available at www.mn.gov/deed/pfa.
-30-