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Commission authorizes SRF construction loan for water tower; loan net $4.3M after grant
City of Newberry Commission · October 28, 2025
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Summary
The commission authorized execution of a State Revolving Fund construction loan agreement for a water tower; staff said the loan is $5.3 million with a $1 million grant (net loan $4.3 million) and an interest rate of 2.39%.
The commission authorized execution of a State Revolving Fund (SRF) construction loan agreement to finance design and construction of a water tower.
Staff presented the proposed financing and said the total loan amount is $5,300,000 but that the city received a $1,000,000 grant,…
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