ST. PAUL – State Rep. Joe McDonald, R-Delano, announces two House District 29A cities – Waverly and Montrose – have been awarded state financing packages totaling more than $5 million combined for sewer and water projects.
The awards have been issued by the Minnesota Public Facilities Authority. The Waverly package is for $3.9 million, to be used for replacing the sanitary sewer collection system on the west side of Waverly Lake. The funding will come from a $773,032 Clean Water Revolving Fund loan at 1-percent interest, along with a $2,920,400 CWRF principal forgiveness grant and a $171,727 Water Infrastructure Fund grant. The PFA indicates the CWRF loan is expected to save local taxpayers $105,881 when compared with the cost of market-rate financing.
Montrose is receiving a $1.4 million package to build a new well and well house and as add a new generator. The project will be funded by a Drinking Water Revolving Fund loan at 1-percent interest. The PFA reports the loan is expected to save $83,067 when compared with market rates.
“These are good local-infrastructure projects that fit the mold for how PFA programs should be applied,” McDonald said. “Congratulations to the people of Waverly and Montrose for successfully earning these awards to help complete these important projects.”
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