News Release 245

DEPARTMENT PROVIDES
LOW-INTEREST DRINKING WATER LOANS

Volume 36-245

Contact: Renee Bungart

(For immediate release)

573-751-4465

JEFFERSON CITY, MAY 7, 2008 -- During Drinking Water Week, the Missouri Department of Natural Resources reminds Missourians that safe, affordable, clean drinking water is essential for the quality of life we enjoy.

The department helps public water supplies keep rates affordable by providing low-interest funding to public water supplies so they may comply with the Safe Drinking Water Act requirements to protect public health. The department's State Revolving Fund loan program makes low-interest loans to community and not-for-profit, non-community water systems. The interest rate on a drinking water State Revolving Fund loan is approximately 70 percent below that of a conventional loan.

"The Department of Natural Resources dramatically reduces a community's annual debt service and interest costs, which translates into lower costs for the consumers," said Department of Natural Resources' Division of Environmental Quality Director Dan Schuette."  Since 1998, the department has saved public water systems approximately $72 million and has provided drinking water improvement loans of approximately $245 million to some 70 communities."

Through the department's State Revolving Fund loans, public water systems are able to finance the costs of planning, design, construction and, in some cases, land cost attributed to the project. The department evaluates the projects and prioritizes them in the Drinking Water State Revolving Fund Intended Use Plan. A project must be listed in the plan to be eligible for funding.

For more information, visit www.dnr.mo.gov/env/wpp/srf/dwsrf-info.htm or call the department's Financial Assistance Center at 800-361-4827 or 573-751-1300.

For news releases on the Web, visit www.dnr.mo.gov/newsrel. For a complete listing of the department's upcoming meetings, hearings and events, visit the department's online calendar at www.dnr.mo.gov/calendar/search.do.

###