The Tennessee Department of Environment and Conservation has announced a $5.9 million loan for the City of Rockwood to improve water infrastructure.
The City of Rockwood loan comes from the Drinking Water State Revolving Fund Loan Program and will address water treatment plant improvements. The loan has a 20-year term at 1.87 percent interest. The City of Rockwood received $2.95 million in principal forgiveness with the remainder of the loan amount to be paid back as principal.
This fiscal year, TDEC has awarded over $16 million in drinking water loans and $71 million in clean water loans to meet the state’s infrastructure needs.