ATLANTA – The Effingham County Industrial Development Authority was awarded a $2,565,000 Georgia Fund loan by the Georgia Environmental Finance Authority (GEFA) Board of Directors.
The loan will finance the construction of an elevated storage tank. The storage tank will help maintain water pressure, provide system redundancy and reliability, and ensure fire safety. This project will help support the growing needs of new residential, commercial, and industrial growth in the area.
The authority will pay 1.63 percent interest on the 20-year loan.
The Georgia Fund, a state-funded loan program, provides communities with low-interest loans for water, wastewater, water conservation, and solid waste infrastructure projects. Eligible projects include water and sewer lines, treatment plants, pumping stations, wells, water storage tanks, and water meters. These projects conserve and improve water resources and facilitate economic growth and development.