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PFA Awards Funding for Three Projects

St. Cloud, Afton and Greenbush investing in water infrastructure improvements

7/31/2017 1:25:44 PM

Shane Delaney, 651-259-7236
Shane.M.Delaney@state.mn.us

ST. PAUL –
The Minnesota Public Facilities Authority (PFA) has approved funding packages totaling nearly $16 million for water infrastructure projects in St. Cloud, Afton and Greenbush.

“These projects will enhance local water resources and the communities they're in,” said Shawntera Hardy, who chairs the PFA board and is commissioner of the Minnesota Department of Employment and Economic Development. “This is a wise investment that will not only protect public health and the environment but also encourage growth in the local economy.”

Funding was approved for the following projects:

St. Cloud, $6.6 million

The grant, awarded from the PFA’s Point Source Implementation Grant Program , will help pay for $24.3 million in wastewater treatment improvements, including an upgrade that will reduce the discharge of phosphorus. Remaining funding will come from local sources and potentially a low-interest loan when the PFA finalizes its loan list this fall.

Afton, $8.7 million
The funding will help pay for a new wastewater and stormwater treatment and collection system to serve the downtown village area. The funding includes a $5.7 million grant from the Point Source Implementation Grant Program. In addition, two low-interest, 20-year loans for $2.2 million and principal forgiveness grants for $748,000 were approved from the Clean Water Revolving Fund . The low-interest loans will save taxpayers $365,000 compared with what they would have paid for market-rate loans of the same amount.

Greenbush, $601,957
The Roseau County city will use the money for a new water main, seven fire hydrants and 23 gate valves along Highway 7. The PFA is providing a $472,723 principal forgiveness grant from the Drinking Water Revolving Fund and a $129,234 low-interest loan, also from the Drinking Water Revolving Fund. The 1 percent, 20-year loan will save the city $22,040 in interest costs compared with what it would pay for a market-rate loan of the same amount.

The Minnesota Public Facilities Authority provides financing and technical assistance to help communities build and maintain infrastructure that protects public health and the environment and promotes economic growth. Since inception in 1987, the PFA has financed $4.5 billion in public infrastructure projects in communities throughout Minnesota. Read more at the PFA website.



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