Funding will support rehabilitation of the Fridley water filter plant in Minneapolis
12/14/2018 8:13:18 AM
Shane Delaney, 651-259-7236
ST. PAUL – The Minnesota Public Facilities Authority (PFA) recently approved $27.3 million loan to the city of Minneapolis to rehabilitate its water filter plant in Fridley.
The funding will come in the form of a loan from the Drinking Water Revolving Fund and will support the second round of rehabilitation at the plant. The 16-year-loan is estimated to save $3,450,059 over the cost of market-rate financing.
“Communities across Minnesota face serious water-quality challenges,” said Governor Mark Dayton. “This funding supports improvements that will give residents of Minneapolis access to the safe drinking water they deserve.”
“The state’s water resources continue to be of critical importance for both residents and businesses,” said Shawntera Hardy, PFA chair and commissioner of the Minnesota Department of Employment and Economic Development (DEED). “This project not only provides clean drinking water for the many residents of Minneapolis, it helps lay the groundwork for future business investment in the state.”
The Minnesota Public Facilities Authority helps communities build and maintain infrastructure to protect public health and the environment and promote economic growth. The PFA financed $4.5 billion in public infrastructure projects throughout Minnesota since its inception in 1987. Read more at the PFA’s website.
Upon request, this information can be made available in alternate formats for people with disabilities by contacting the DEED Communications Office at 651-259-7161.