Curley Creek water receives DEQ loan

BONNERS FERRY — The Curley Creek Water Association recently received a $500,000 loan from the Idaho Department of Environmental Quality to upgrade its drinking water system, part of $9.64 million awarded to water systems in Canyon and Boundary counties.

The low-interest drinking water loan will go toward construction of a new reservoir as well as installation of new booster pumps, an automated treatment system and a secondary well. These projects will help address contamination and limited flow capacity within the system, DEQ officials said in a press release.

The Department of Environmental Quality is authorized by state law to make loans to assist in the construction of public drinking water systems. Since the annual cost of drinking water service for residential customers exceeds 1.5% of the median household income, Curley Creek Water Association qualifies for a disadvantaged loan, which carries favorable repayment terms.

The loan from the Department of Environmental Quality's State Revolving Loan Fund, which is capitalized annually by grants from the U.S. Environmental Protection Agency, carries a 2% interest rate, is payable over 30 years and has $500,000 in principal forgiveness. The favorable loan terms represent $1 million in savings to the community when compared to average costs for municipal general obligation debt issuances.

Also receiving a loan from the department was the city of Wilder in Canyon County which received a $9.14 million low-interest wastewater construction loan to help design and construct a wastewater reuse system. The project will include required upgrades to comply with regulatory permit limits.

The Department of Environmental Quality is authorized by state law to make loans to assist in the construction of public wastewater systems. Since the annual cost of wastewater service for residential customers exceeds 1.5% of the median household income, the city qualifies for a disadvantaged loan, which carries favorable repayment terms.

The loan from the Department of Environmental Quality's State Revolving Loan Fund, which is capitalized annually by grants from the U.S. Environmental Protection Agency, carries a 2% interest rate, is payable over 30 years and has $6.07 million in principal forgiveness. The favorable loan terms represent $14.49 million in savings to the community when compared to average costs for municipal general obligation debt issuances.