TDEC announces $1.3 million in wastewater construction loans for Cleveland
The city of Cleveland has been approved to receive nearly $1.3 million in low-interest loans for wastewater infrastructure improvements from the State.
The City will receive $1,000,000 for a Collection System Expansion Project. The project is funded with a 20-year, $900,000 loan with an interest rate of 1.56 percent and $100,000 in principal forgiveness that will not have to be repaid. The City will also receive $350,500 for the Collection System Expansion Project, funded by a 20-year loan with an interest rate of 1.56 percent.
The Collection System Expansion Project will consist of the installation of approximately 7,750 linear feet of sewer lines to replace septic tanks to serve customers in an annexed area between South Lee Highway and I-75 Exit 20.