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Rising Sun wins $34,640 MDE grant; Chester Water USDA financing converts to 40 years
Summary
Town staff said the wastewater plant earned a $34,640 operator grant from MDE for performance above permit standards, and that USDA interim financing for the Chester Water project has closed and will convert to 40-year financing at about a 1.4% interest rate.
Town staff told the Board of Commissioners that the town’s wastewater operations were recognized with an operator’s grant from the Maryland Department of the Environment and that a separate water project’s USDA financing has been finalized.
The town administrator said the town received an MDE operator grant of $34,640 and emphasized that the award reflects plant performance "above and beyond" permit requirements. "They don't give you the grant for just meeting what you're required to do," he said, adding the grant recognizes a discharge that is more environmentally friendly than minimum standards.
On the Chester Water project, the administrator said the interim financing has converted into a 40-year USDA loan at an interest rate he estimated at about 1.4 percent. He said the USDA closing occurred the prior week and characterized the rate as favorable compared with earlier sewer financing.
The board’s finance report also noted general-fund and utility performance: town financials through November showed a general fund positive balance of $233,000 and about 60 percent of real-estate taxes collected, while water operations average roughly 5,000,000 gallons per month. "So all the funds are performing really well," the finance presenter said.
Next steps: the grant is already awarded and recorded; USDA financing is closed. The town will incorporate those funding outcomes into its budget and capital planning.
