Gov. Bill Lee and Commissioner David Salyers of the Tennessee Department of Environment and Conservation (TDEC) today announced a $17.5 million loan from the State Revolving Fund Loan Program for the City of Cookeville to improve water infrastructure.

The loan is one of two approved by the Tennessee Local Development Authority, with loans for Smyrna and Cookeville totaling $20 million.

The loan for the City of Cookeville comes from the Drinking Water State Revolving Fund Loan Program. The loan addresses improvements to the water treatment system and has a 20-year term at 1.07 percent interest.

Through the State Revolving Fund Loan Program, communities, utility districts, and water and wastewater authorities can obtain loans with lower interest rates than through private financing. These low-interest-rate loans can vary from zero percent to below-market rate, based on each community’s economic health.

This fiscal year, TDEC has awarded $26.1 million in drinking water loans and $79.2 million in clean water loans to meet the state’s infrastructure needs. During the fiscal year 2021, TDEC awarded $7,171,000 in drinking water loans and $77,568,000 in clean water loans for a total of $84,739,000.