Toccoa receives grant

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  • The city is eligible for principal forgiveness up to $1 million.
    The city is eligible for principal forgiveness up to $1 million.
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    The City of Toccoa on Tuesday, was awarded a $7,332,000 Clean Water State Revolving Fund (CWSRF) loan by the Georgia Environmental Finance Authority (GEFA) board of directors.
    The loan will finance upgrading of the city’s water pollution control plant on Roselane.
    The headworks create a hydraulic bottleneck that results in sewer overflow during heavy rainfall.
    This project will increase flow capacity, help eliminate hydraulic restrictions, and prevent future noncompliance issues.
    The city will pay 2.17 percent interest on the 30-year loan, which is eligible for a reduced interest rate because the city of Toccoa is a PlanFirst Community.
    The city is eligible for principal forgiveness up to $1 million.
    The CWSRF provides low-interest loans for wastewater and water pollution control infrastructure.
    These projects conserve and improve water resources and facilitate economic development. The program is jointly funded by the U.S. Environmental Protection Agency and the state of Georgia.
    The Georgia Environmental Finance Authority (GEFA), headquartered in Atlanta, provides financing for a variety of energy, land, and water projects.
    Since 1985, GEFA has approved financial commitments totaling more than $4.5 billion to local governments, businesses, and nonprofit organizations. For more information, visit gefa.georgia.gov, Twitter, Facebook, LinkedIn, YouTube, or Flickr.