DYERSBURG – Tennessee Department of Environment and Conservation (TDEC) Commissioner David Salyers will join Dyersburg Mayor John Holden, Dyer County Mayor Chris Young and other elected officials Thursday Dec. 5 to present a check for a $2.5 million clean water loan to the City of Dyersburg. The presentation will be made at 10:30 a.m. at the Chamber office.
The check is part of TDEC’s Clean Water State Revolving Fund loan program and is being made to the city for wastewater infrastructure improvements. The loan consists of principal forgiveness of $500,000 and principal of $2 million with a five-year term and a 0.38 percent interest rate.
Through the State Revolving Fund Program, communities, utility districts and water and wastewater authorities can obtain loans with lower interest rates than most can obtain through private financing. Interest rates for loans can vary from zero percent to market rate, based on each community’s economic index. Loans utilizing EPA grant funds can also include a principal forgiveness component.
Dyersburg’s loan will assist the community in improving its wastewater collection system by reducing inflow and infiltration from groundwater during storm events. With this loan, the community has committed to piloting efforts to reduce risks to wastewater infrastructure by adopting and implementing strategies in planning, design, and construction efforts. The flood resilience pilot project will be used to educate other communities facing similar issues on best practices to protect critical infrastructure and water quality.