Pooling Your Project’s Financing
The Town of Newport’s new Wastewater Treatment and Collection System Project is a ground breaker when it comes to pooling funding sources. This project represents the first time three (3) major funding sources all participated in one (1) wastewater project. The USDA Rural Development, Indiana Finance Authority, and the Office of Community and Rural Affairs are all partners in the financing of the Newport Wastewater Treatment Plant and Collection System Project.
The Town of Newport was awarded $4,455,000 in federal grant funds and $1,366,221 in low interest loan to address their wastewater issues.
Involving multiple funding sources will be a “sign of things to come” as communities across Indiana strive to keep their utility rates reasonable. Preparation and early coordination is key to ensure your project maximizes the availability of funds offered by the funding agencies.
For details on pooling your next project’s funding sources, please contact Vince Sommers or Wayne Bailey at 800-289-1177.