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Athens council fast-tracks $17.2 million sewer project funding with federal loan forgiveness component
Summary
City council suspended rules and adopted an ordinance to consolidate financing for the long-running city source system improvements project, authorizing up to $17.2 million in Sew er Fund spending; officials said $8 million of that qualifies for principal forgiveness and loans carry 0% interest for 30 years.
Athens City Council voted unanimously to suspend the rules and adopt Ordinance 97-25 at first reading on Sept. 15, authorizing the service safety director to commit up to $17,200,000 from the sewer fund for all phases of the City Source System Improvements Project (project 330). The action was taken to consolidate multiple prior financing steps for a multi-year infrastructure program.
The ordinance matters because it compiles previously approved financing for decades-old wastewater infrastructure, and because city officials said part of the package includes $8 million in principal forgiveness from a regional…
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