Tennessee Local Development Authority approves $231,000 Clean Water planning loan for Plateau Utility District

On May 19, 2025, the Tennessee Local Development Authority approved a $231,000 planning and design loan to Plateau Utility District from the Clean Water State Revolving Fund at 1.13% interest; 50% of the loan, $115,500, will be forgiven if conditions are met.

The action followed a staff report on the SRF balances. "The unobligated balance as of the last TLDA meeting, was $245,425,261. Cleveland Utility Authorities did, return some money, $132,981, increasing that balance to $245,558,242," said Miss Jones, TLDA staff. Jones said approving the Plateau loan would leave an unobligated clean water balance of $245,327,242. Jones also reported an unobligated emerging contaminant fund balance of $1,358,000.

Miss Jones described Plateau as a disadvantaged community and said the utility met TLDA fiscal requirements: its rates and revenues met sustainability standards, audits were filed on time, and the district maintains an approved annual budget. "Plateau Utility District has supplied all of the required information, including information on debt service and pledged a security deposit of $23,772. So we are supporting, the approval of this loan," Jones said.

The chair moved approval and the motion was seconded. With no discussion, board members voted to approve the item; the meeting record shows the item "is approved." The transcript does not record individual roll-call votes or named yes/no votes.

The loan will fund planning and design for the district; staff did not request rate increases as part of the approval and indicated the district met reporting requirements. No additional conditions or implementation dates were specified in the meeting record.

The board also approved the April 10, 2025, minutes earlier in the meeting and then continued to other agenda items.