COVINGTON, Ga. — On Feb. 19, the City of Covington, was awarded a $12 million Clean Water State Revolving Fund (CWSRF) loan by the Georgia Environmental Finance Authority (GEFA) board of directors. 

The loan will finance upgrading the city’s water reclamation facility and an operations building. This project will ensure wastewater discharges comply with regulations, which will help improve economic development and reduce local water demand.

The city will pay 2.39% interest on the 20-year loan. The loan qualifies for a reduced interest rate due to the city being a WaterFirst Community. The city is eligible for principal forgiveness up to $2.4 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.