DEQ awards $2 million to Kootenai County Water District
Wednesday, July 01, 2020
BOISE — The Idaho Department of Environmental Quality (DEQ) today announced the award of a $2 million low-interest drinking water construction loan to the Kootenai County Water District located in Kootenai County, Idaho.
The funding will be used to replace and repair the distribution system, increase water storage, add and replace pump capacity, and replace meters.
DEQ is authorized by state law to make loans to assist in the construction of public drinking water systems. Since the annual cost of drinking water service for residential customers exceeds one and one-half percent of the median household income, the Kootenai County Water District is able to qualify for a disadvantaged loan which carries very favorable repayment terms.
The loan from DEQ’s State Revolving Loan Fund, which is capitalized annually by grants from the US Environmental Protection Agency, carries a simple 1.75% interest rate, is payable over 30 years, and has a $34,952 principal forgiveness. The favorable loan terms represent a $212,174 savings to the community when compared to average costs for municipal general obligation debt issuances.