Fayetteville Water Loan Awarded

Governor Bill Lee and Tennessee Department of Environment and Conservation Commissioner David Salyers announced a $15 million loan for the City of Fayetteville to improve water infrastructure.

The loan is one of five approved by the Tennessee Local Development Authority.

The City of Fayetteville loan comes from the Drinking Water State Revolving Fund Loan Program. The loan addresses waterline replacement to improve pressure and reduce water loss. The loan has a 20-year term at 1.87 percent interest.

Tennessee’s Clean Water State Revolving Fund Loan Program has awarded more than $2 billion in low-interest loans since its inception in 1987.

The state’s Drinking Water State Revolving Fund Loan Program has awarded more than $300 million in low-interest loans since its inception in 1996.