The North Carolina State Water Infrastructure Authority (SWIA) has awarded the Town of Clayton a $30 million low-interest loan for the development of its new wastewater reclamation facilities.
SWIA made the award, which is the second loan of this type awarded to the Town, at its regular meeting on Feb. 10. Combined, the two loans represent a funding source of approximately half of the overall program costs.
“We are excited about the State of North Carolina’s continued commitment to our community,” Finance Director Robert McKie said. “This type of low-interest loan provides a very desirable financing alternative to our rate payers.”
Applications for the low-interest loans are made through the NC Department of Environmental Quality’s (DEQ) Division of Water Infrastructure (DWI) and are evaluated based on four criteria — project purpose, project benefits, system management and affordability. Clayton received the maximum loan amount that could be obtained in a single application.
Town Manager JD Solomon said, “This award demonstrates the high value of this program to our community and the state. We have put just as much emphasis on the financial aspects and affordability of the program as we have the engineering and environmental aspects of the project. I am happy with the work of the staff and consultants who are working as part of the financial team.”
Clayton’s Water Reclamation Program includes two major wastewater transmission lines, modifications to two major pump stations and a new wastewater treatment plant. The program has cleared all planning environmental requirements from state and federal agencies. An early grading package and one of the wastewater pipelines will be bid for construction over the next few months. The Request for Proposals that will be used to select the plant’s Design-Build team is now open.
The State Water Infrastructure Authority is an independent body with primary responsibility for awarding both federal and state funding for water and wastewater infrastructure projects.