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TLDA approves two Clean Water SRF loans for Brownsville, Parsons with principal forgiveness
Summary
The Tennessee Local Development Authority approved two Clean Water State Revolving Fund loans — $17 million to Brownsville Energy Authority and $1,606,835 to the City of Parsons — both 20-year loans at 1.32% interest. Both disadvantaged communities received principal forgiveness for half or a portion of their loans.
The Tennessee Local Development Authority on June 23 approved two Clean Water State Revolving Fund (SRF) loans: a $17,000,000 loan to Brownsville Energy Authority for a new wastewater treatment plant and a $1,606,835 construction loan to the City of Parsons to relocate sewer lines.
TLDA staff member Miss Jones told the board the Brownsville loan carries a 20-year term at a 1.32% interest rate and is eligible for $4,999,700 in principal forgiveness, reducing Brownsville’s repayable principal to $12,000,300. Jones said…
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