City of Madison Finances Water Project

State funding will be used to rehabilitate aging infrastructure in the City’s water supply and treatment system.

INDIANAPOLIS, December 2022— The City of Madison closed a low interest loan, in the amount of $12,000,000, through the Indiana Finance Authority’s Drinking Water State Revolving Fund (SRF) Loan Program to finance improvements to the City’s drinking water systems.  By utilizing the SRF Loan Program instead of securing a traditional loan, Madison will save approximately $2,734,800 in interest costs over the life of the loan.  

The SRF Loan Programs are administered by the Indiana Finance Authority with joint funding from the U.S. Environmental Protection Agency and the State of Indiana.  The Town’s project will replace water main in areas experiencing water main breaks, rehabilitate six existing water storage facilities, and existing water treatment plants, and update water meters and controls.  The project will ensure the City is able to continue to provide consistent quantity and quality of water, and further protect the public health of residents and businesses in the Madison 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, stephanie@mcfarlandpr.com, or by visiting www.srf.in.gov.