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Local Communities Saving Money

Posted: Saturday, June 29th, 2013 at 6:21 am
Author: KNIA/KRLS News - Justin Webster

The State Revolving Fund recently reduced its interest rate on all new 20-year loans, saving 114 communities a total of $6.5 million in interest. Due to the success of the program, the rate reduction is being extended to all existing loans that are at least ten years old. Local communities receiving savings include Melcher-Dallas, Monroe, New Sharon, Pella, Pleasantville, Prairie City and Oskaloosa totaling $446,287.50. “Iowa’s State Revolving Fund is a win-win for Iowans and Iowa communities of all sizes,” said Iowa Department of Natural Resources Director Chuck Gipp. “The program offers low-interest loans to help communities affordably build or update water facilities, resulting in lower water and sewer bills for Iowans.”