Six communities, including one in the Tennessee Valley, have been approved to receive more than $23.9 million in low-interest loans.

The loans will be used to fund water and wastewater infrastructure improvements.

READ MORE | Hamilton County gets nearly $27 million in loans to improve wastewater treatment

“Abundant, clean water is critical to the quality of life in Tennessee, and these low-interest loans will help local communities provide needed infrastructure updates to ensure our supply of water is available for future generations,” Governor Bill Haslam said. 

The City of Cleveland learned Tuesday that they will receive a $10 million dollar Traditional Wastewater Loan for an Infiltration/Inflow Correction Project. The project will be funded with a 20-year, $10 million loan with an interest rate of 1.58 percent.

“Clean water is one of our most valuable resources and these loans help ensure communities have the access they need,” Tennessee Department of Environment and Conservation (TDEC) Commissioner Bob Martineau said. 

Here is a complete list of the approved loans:

Two Wastewater Loans were announced today for the following recipients:

  • City of Chapel Hill (Shelby County) – The City of Chapel Hill will receive $788,750 for a collection System Replacement project. The project will be funded with a 20-year, $709,875 loan with an interest rate of 1.04 percent and $78,875 in principal forgiveness that will not have to be repaid.
  • City of Lewisburg (Marshall County) – The City of Lewisburg will receive $1,000,000 for a Wastewater Treatment Plant Improvement project. The project will be funded with a 20-year, $900,000 loan with an interest rate of 1.05 percent and $100,000 in principal forgiveness that will not have to be repaid.

Three Traditional Wastewater Loans were announced today for the following recipients:

  • City of Cleveland (Bradley County) – The City of Cleveland will receive $10,000,000 for an Infiltration/Inflow Correction project. The project will be funded with a 20-year, $10,000,000 loan with an interest rate of 1.58 percent.
  • City of Lewisburg (Marshall County) – The City of Lewisburg will also receive $75,000 for a Wastewater Treatment Plant Improvement project. The project will be funded with a 20-year, $75,000 loan with an interest rate of 1.05 percent.
  • City of Memphis (Shelby County) – The City of Memphis will receive $11,000,000 for the T.E. Maxson Wastewater Treatment Plant Headworks Improvements Project. The project will be funded with a 20-year, $11,000,000 loan with an interest rate of 0.81 percent.

Two Drinking Water Loans were announced today for the following recipient:

  • Town of Bell Buckle (Bedford County) – The Town of Bell Buckle will receive $294,000 for a Distribution System Water Main line Replacements project. The project will be funded with a 20-year, $235,200 loan with an interest rate of 0.27 percent and $58,800 in principal forgiveness that will not have to be repaid.
  • Town of Erwin (Unicoi County) – The Town of Erwin will receive $750,000 for a New Water Storage Tank project. The project will be funded with a 20-year, $600,000 loan with an interest rate of 1.10 percent and $150,000 in principal forgiveness that will not have to be repaid.