COVINGTON, Ga. — The Georgia Environmental Finance Authority (GEFA) recently awarded two Newton County entities millions of dollars to fund wastewater infrastructure projects.
The Newton County Water & Sewerage Authority was awarded Thursday, Nov. 4, a $25 million Georgia Fund loan by the Georgia Environmental Finance Authority (GEFA) board of directors.
The award will fund construction of a new transmission main and a water storage reservoir, as well as upgrades to the water reclamation facility. The project will provide a sufficient water supply to meet industrial and commercial demands at Stanton Springs.
Stanton Springs is a 1,600 acre high-tech and bio-pharma industrial park located in east Newton County, created by the Joint Development Authority of Jasper, Morgan, Newton and Walton Counties. Stanton Springs is currently home to Takeda, Facebook Newton Data Center and Georgia’s BioScience Training Center.
The Water & Sewerage Authority will pay 0.63% interest on the 20-year loan, which is eligible for a reduced interest rate because the authority is a WaterFirst Community.
The Georgia Fund, a state-funded loan program, provides 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.
The city of Mansfield was awarded a Clean Water State Revolving Fund (CWSRF) loan in the amount of $956,600 to finance rehabilitating the water pollution control plant. The project will ensure permitting compliance, maintain operator safety, and improve treatment effectiveness.
The city will pay 0.13% interest on the 20-year loan, which qualifies for a reduced interest rate because the city is a WaterFirst Community. The city is eligible for principal forgiveness up to $430,470.
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 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 $5 billion to local governments, businesses, and nonprofit organizations.