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TLDA approves four planning-and-design SRF loans; Paris sewer bonds approved
Summary
At its June 22 meeting the TLDA approved four planning and design clean-water loans (Norris, Paris, Cleveland, Franklin) totaling about $14.98 million and approved Paris Utility Authority's 2026 sewer revenue bonds; several notification items were also acknowledged.
The Tennessee Local Development Authority on June 22 approved four planning-and-design loans from the State Revolving Fund (SRF) and took up other routine financing items.
SRF staff, represented by Ms. Jones, reported the clean-water SRF unobligated balance and recommended board approval of four planning and design loans totaling $14,979,000. The board moved, seconded and approved the package by roll call.
Loan highlights: - City of Norris: $250,000 planning and design loan for a stormwater management plan; qualifies for 50% loan forgiveness; recommended 5‑year term at 2.35% with principal repayment of $125,000. - Paris Utility Authority: $1 million planning and design loan for wastewater treatment-plant upgrades; Paris serves about 4,665 customers and qualifies for 50% forgiveness; recommended 5‑year term at 1.5% with principal repayment of $500,000. - Cleveland Utilities Authority: $1.92 million planning and design loan for wastewater upgrades; Cleveland serves about 35,419 customers and does not qualify for forgiveness; recommended 5‑year term at 1.93%. - City of Franklin: $17.6 million planning/design request that included an $11.8 million SRF base loan and $5.8 million in emerging-contaminant funds (treated as 100% loan forgiveness/grant per federal program rules) to address PFAS and related contaminants and to advance beneficial reuse standards.
The board also approved a request from Paris Utility Authority to issue up to $11.9 million in sewer revenue bonds (2026 parity bonds) to replace city debt and make the obligation the authority’s responsibility.
In addition, the board acknowledged notifications from Monteagle ($1.5 million PBA loan agreement subordinate to SRF), Greenbrier ($3 million water-meter notes), and LaFollette ($1.2 million in water-system notes). The meeting concluded after a brief personal-privilege introduction and the adjournment vote.
Votes and procedural notes: All four SRF loans were approved as a package. The Paris bonds request was approved by roll-call vote. Several board members asked staff to continue monitoring projects and coordinate further outreach where regional issues are involved.
