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TLDA approves $6.3 million in Drinking Water SRF loans for McMinnville and Watts Bar Utility District
Summary
TLDA approved two Drinking Water State Revolving Fund loans totaling $6.3 million: $5.3 million to McMinnville for water treatment plant work with $2.12 million in principal forgiveness, and $1 million to Watts Bar Utility District for meter replacements with $500,000 principal forgiveness.
At its Feb. 13, 2025 meeting, the Tennessee Local Development Authority approved two Drinking Water State Revolving Fund loans totaling $6,300,000, staff reported.
Paula Mitchell, deputy director for the Division of Water Resources, said the drinking water SRF unobligated balance as of Dec. 16, 2024, was $80,046,218 and that an $8,700 return from the city of Maynardville raised the balance to $80,054,918. Approving the two loans would reduce the available balance to $73,754,918.
The authority approved a $5,300,000, 20-year loan for the city of McMinnville to fund water treatment plant improvements, including rehabilitation of raw water pumps, sedimentation basins, filters, the…
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