Iowa State Revolving Fund Lowers Interest Rates

The Iowa Finance Authority and the Iowa Department of Natural Resources announced that they are proposing to reduce the cost of water quality loans offered through the State Revolving Fund even further. The proposal will change the interest rate from 3% to 1.75% for most loans.

Disadvantaged communities that qualify for the extended (30-year) terms will receive the 1.75% interest rate. The SRF program also recently reduced its loan origination fee from 1% to 0.5%, creating additional savings for communities and ratepayers. Interest rates and fees are established in the SRF Intended Use Plans.

A public hearing is scheduled for Thursday, Aug. 9 and the next plans will be considered by the Environmental Protection Commission on Sept. 18. If approved, the new rate will take effect on Sept. 28, 2012.

Caltha LLP provides expert environmental consultant services in Iowa to obtain environmental permits, evaluate regulatory requirements, and to develop cost effective compliance programs.
For further information contact Caltha LLP at info@calthacompany.com or Caltha LLP Website