Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Srflending topic
No spam. Unsubscribe anytime.
TLDA approves $143K planning loan for Maynardville wastewater improvements
Summary
TLDA approved a $143,000 planning and design SRF loan for Maynardville (Union County). SRF staff recommended a 5-year loan at 1.45% interest; Maynardville qualifies for principal forgiveness as an economically disadvantaged small system.
The Tennessee Local Development Authority voted to approve a $143,000 planning and design loan to the City of Maynardville to support wastewater treatment planning work.
TDEC staff told the board Maynardville is a small system (about 1,313 customers) that qualifies for principal forgiveness; SRF recommended the five-year loan at 1.45% interest with an estimated principal repayment of $71,500. Vina Jones said Maynardville’s audit was not filed timely but the city provided an explanation and pledged to improve timeliness. The board approved the item by voice vote.
SRF staff noted the loan is planning-phase and that construction financing may follow after the facilities plan and feasibility work is completed.
