GREENVILLE, N.C. (WNCT) The Greenville Utilities Commission is among a select group of utilities invited to apply for a special loan of up to $29 million to complete its Water Treatment Plant upgrade.
The U.S. Environmental Protection Agency (EPA) chose GUC’s Water Treatment Plant upgrade for their Water Infrastructure Finance and Innovation Act (WIFIA) loan program.
“Being invited to apply for a loan with the WIFIA program is a great opportunity for GUC,” said Randy Emory, Director of Water Resources. We are exploring the potential advantages of using the loan to finance the Plant expansion. Primary among the benefits is a very low-interest rate that will allow us to save our customers money. We are in the process of due diligence to find the best way to make the loan benefit the Commission and our customers.”
GUC’s project is among 39 projects across 19 states invited by the EPA to apply for approximately $6 billion in loans to help finance more than $12 billion in water infrastructure projects.
“Through WIFIA, EPA is playing an integral role in President Trump’s efforts to improve and upgrade our nation’s water infrastructure and ensure all Americans have access to clean and safe water,” said EPA Administrator Andrew Wheeler. This announcement highlights over $12 billion in needed water infrastructure investments to upgrade aging infrastructure, reduce exposure to lead and emerging contaminants and improve the lives of millions of Americans across the country – all while creating up to 190,000 jobs.”
Design work for the Plant’s upgrade is nearly completed, but there is more work to do before any physical work on the project can get started.
Emory said, “While we are not guaranteed the loan, being invited is like being pre-qualified and is a strong indication that we will receive the money.”