Tennessee Gov. Bill Lee and the Tennessee Department of Environment and Conservation (TDEC) Commissioner David Salyers announced two loans for the nearby City of Lebanon totaling $5.7 million to address water infrastructure.

Earlier this year, Smyrna, TN received a low interest loan of approximately $3 million. The money was earmarked for clean water infrastructure improvements.

The city has been awarded both a Clean Water State Revolving Fund loan and a Drinking Water State Revolving Fund loan for updates to the community's infrastructure. The Clean Water loan for $4.3 million will aid the city in rehabilitation of sewer interceptors, including replacement of 7,000 linear feet of the Blair Lane collection system. This loan has a 20-year term at a 1.32 percent interest rate.

The city has also been awarded a $1.4 million Drinking Water State Revolving Fund loan to assist with the construction of a new one-million-gallon water storage tank at Seay Hill. This loan carries a 20-year term at 1.31 percent interest.

"The State Revolving Fund Loan Program serves our state well, and we are pleased to announce this funding for Lebanon," Lee said. "These loans show our commitment to modernizing infrastructure, and this should be of major assistance to the community."

"We look forward to the improvements these loans can bring to Lebanon," Salyers said. "The SRF program continues to assist cities across Tennessee, and these loans should be a big boost."

Through the State Revolving Fund Loan Program, communities, utility districts, and water and wastewater authorities can obtain loans with lower interest rates than through private financing. These low interest rate loans can vary from zero percent to below market rate, based on each community's economic health.

TDEC administers the State Revolving Fund Program in conjunction with the Tennessee Local Development Authority. The U.S. Environmental Protection Agency provides grants to fund the program, and the state provides a 20-percent match to the federal funding. Loan repayments are returned to the program and are used to fund future SRF loans.

This fiscal year, TDEC has awarded $1,485,000 in drinking water loans and $100,300,000 in clean water loans to meet the state's infrastructure needs. 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.