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TLDA approves two drinking-water loans; members debate matching loan terms to meter lifecycle
Summary
The TLDA approved loans for South Pittsburg and Maynardville totaling about $2.00 million and discussed whether 20-year loan terms are appropriate for meter replacement projects given AMI meter lifecycles and staffing impacts.
The Tennessee Local Development Authority on April 20 approved two drinking-water loans recommended by State Revolving Fund staff: a $556,575 request for South Pittsburg and a $1,446,382 request for Maynardville. SRF staff said both loans carry 20-year terms at about 1.99% interest and include principal forgiveness for disadvantaged communities.
Miss Jones, SRF staff, said South Pittsburg's request would include roughly 30% principal forgiveness (about $167,000) and that the repayment…
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