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TLDA approves $18.6 million in Clean Water SRF loans for Brownsville, Parsons
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 with principal forgiveness applied to disadvantaged communities.
The Tennessee Local Development Authority on June 23, 2025, approved two Clean Water State Revolving Fund loans totaling $18,606,835 to support wastewater projects in Brownsville and Parsons.
TLDA staff said the SRF program balance before the loans was $245,327,242; if the loans are funded as requested the balance would decrease to $226,720,407. Miss Jones, SRF staff, told the board the program also has $1,358,000 available in a clean water emerging contaminant fund, of which no loans had been requested.
Brownsville Energy Authority was approved for a $17,000,000 loan to build a new wastewater treatment plant. The loan carries a 20-year term at 1.32% interest. Because Brownsville is categorized as a disadvantaged community it is eligible for principal forgiveness of $4,999,700, which Miss Jones said would bring the repayable principal to $12,000,300. Jones said Brownsville has pledged a security deposit equal to one year's maximum annual debt service, listed in the packet as $683,028, and that the authority provided required technical documents, existing-debt information and board resolutions. "SRF recommends approval of this loan request," Jones said.
The City of Parsons was approved for a $1,606,835 construction loan at the same 20-year term and 1.32% interest. Parsons is also a disadvantaged community and is eligible for principal forgiveness of $803,417.50, leaving the other half as the loan balance for repayment, Jones said. Parsons provided required documents, including its annual budget and audit, and pledged its state shared taxes as security. Jones reported Parsons' current rate cited in the packet as $30.51 charged to its customers and noted prior obligations disclosed in the packet.
Board members voted by roll call to approve both loans. The vote was unanimous among members present.
The loans and the SRF balance updates were the primary SRF items discussed; no additional conditions or amendments were recorded in the meeting minutes.
