For Release: Tuesday, December 21, 2004
- SHIMKUS & COSTELLO ANNOUNCE LOAN TO WATER CO.
Washington - Congressmen John Shimkus (R, Illinois-19) and Jerry Costello (D, Illinois-12) are pleased to announce a United States Department of Agriculture loan to the Washington County Water Company, headquartered in Nashville. The water company will receive a Rural Development Water and Waste Disposal Direct Loan in the amount of $375,000.
"Dependable water service enhances quality of life and provides opportunities for economic development in the region," said Costello. "Upgrading our water infrastructure is a need throughout Southern Illinois. Using federal dollars in combination with state and local sources of funding maximizes the impact of this investment, and I will continue to support these efforts."
These funds will be used to connect 20 miles of water line extension to serve 50 new users in Bradley Township in Jackson County. Additional funding will come from a $350,000 Community Development Block Grant and $12,500 in connection fees.
This loan has a term of 35 years at 4.5 percent interest. Previously, this project received a $1.3 million grant and a $630,000 loan. Washington County Water Company serves residents in six counties.
"Rural Development is a federal program in the Department of Agriculture that can offer loans and grants in support of water or sewer projects, housing projects, and business enterprise," Shimkus added. "I support every local effort to make infrastructure improvements that are vital to our region's growth."
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