Bryan County Board of Commissioners was awarded a $9,961,000 Georgia Fund loan by the Georgia Environmental Finance Authority (GEFA) board of directors, according to a press release by GEFA.
The loan will finance rehabilitating and expanding the sewer collection system. The regional sewer conveyance system and pump station is part of a larger regional infrastructure expansion related to the Savannah Portside International Park along 1-16 and Jimmy Deloach Parkway in Effingham County. This project will extend sewer infrastructure to support the development of the park.
The county, according to GEFA, will pay 1.58% interest on the 20-year loan. The loan qualifies for a reduced interest rate because a portion of the project is a conservation activity.
The Georgia Fund, a state-funded loan program, provides communities with low-interest loans for water, wastewater, water conservation, and solid waste infrastructure projects. Eligible projects include water and sewer lines, treatment plants, pumping stations, wells, water storage tanks, and water meters. These projects conserve and improve water resources and facilitate economic growth and development.
GEFA provides loan financing at a reduced interest rate for energy efficiency and renewable energy projects at water and wastewater treatment plants, landfills, and municipal solid waste facilities; water conservation projects in the areas of water loss and end-use water efficiency; and nonpoint source land conservation projects.