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Posted on: December 19, 2017

City of Madison Closes State Revolving Fund Loan

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City of Madison Closes State Revolving Fund Loan
Make it possible for the City to comply with permit requirements

INDIANAPOLIS, December 2017— The City of Madison closed a low-interest loan, in the amount of $11,400,000, through the Indiana Finance Authority’s Clean Water State Revolving Fund Loan Program to finance improvements to the City’s wastewater treatment system. By utilizing the SRF Loan Program instead of securing a traditional loan, Madison will save approximately $2,463,000 dollars over the life of the loan.

The SRF Loan Program is administered by the Indiana Finance Authority with joint funding from the U.S. Environmental Protection Agency and the State of Indiana. The project will eliminate sanitary sewer overflows and combined sewer overflows in the City’s collection system and add a phosphorous removal process at the City’s wastewater treatment plant. The project will allow the City of Madison to continue to meet environmental permit limits and further and protect water quality and public health for the residents and businesses in the service area.

SRF Loan Programs operate in all States to provide the resources necessary to maintain and improve the infrastructure that protects our valuable water resources. Communities can get more information about obtaining an SRF loan by contacting Stephanie McFarland at (317) 709-8728, smcfarland@mcfarlandpr.com, or by visiting www.srf.in.gov.
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