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GIFA seeks $35 million for new natural gas loan fund; rural infrastructure also recommended
Summary
The Georgia Environmental Finance Authority told the subcommittee it is preparing a $35 million revolving loan fund for natural gas projects under authority from Senate Bill 13 and welcomed a separate $50 million house recommendation for rural economic development infrastructure.
Trey Bennett, introduced as the new executive director of the Georgia Environmental Finance Authority (GIFA), told the committee GIFA will stand up a new loan fund if appropriated $35 million to finance natural gas infrastructure under Senate Bill 13. Bennett said the statute gave GIFA authority to fund natural gas projects in addition to GIFA's traditional water and sewer revolving loans and that GIFA was developing application and underwriting processes but had no specific projects identified yet.
Bennett also noted the House recommended an additional $50 million for rural infrastructure and described GIFA's role in administering low-interest loans and federal funds for communities across Georgia. Committee members asked whether GIFA had project-level data; Bennett said not in the hearing materials but offered to provide trend data offline and emphasized aging infrastructure and growing needs, especially in rural areas.
A committee member asked whether the $35 million would support repairs, replacements or new lines; Bennett said the statute was broad and that repairs, replacements and new infrastructure would likely be eligible pending program rules.
