Illinois provides $42.2M loan to Macomb for water plant upgrade
What happened
Macomb is constructing a new water treatment plant, funded by a $42.2 million loan program administered by the Illinois Environmental Protection Agency. The current plant, which is over a century old, is described as unreliable. The project, which is expected to take about 900 days, includes $6 million in principal forgiveness, meaning Macomb will repay roughly $36 million.
From tspr.org
Why it matters
The new facility will improve water quality and operational ease by switching the water source from surface water to an aquifer. The state provided favorable loan terms, including lower interest rates and a longer loan period, because Illinois considers Macomb an economically disadvantaged community.
From tspr.org
Who's involved
- IllinoisThe state of Illinois provided financial support through the loan program.
- MacombMacomb is receiving the loan to finance the upgrade of its critical water infrastructure.
- Illinois Environmental Protection AgencyThe Illinois Environmental Protection Agency administers the Public Water Supply Loan Program.
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- Illinois Environmental Protection AgencySpeculative
The Illinois Environmental Protection Agency may see its operational scope expand through the utilization of the loan program.
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The entities involved
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Illinois
state of the United States of America
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Macomb
city in and the county seat of McDonough County, Illinois, United States
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