THE FOLLOWING IS AN ILLINOIS SENATE REPUBLICAN STAFF RELEASE
Springfield, IL– State Sen. Chapin Rose (R-Mahomet) secured over $31.5 million from Illinois Environmental Protection Agency (Illinois EPA) for the 51st District to improve infrastructure and ensure access to clean and safe water to communities.
“I am very excited to help facilitate this project for the citizens of Hoopeston,” said Sen. Rose.
The City of Hoopeston will receive $2,654,918 for water infrastructure projects – half of which is forgivable. This loan is to make improvements at the water treatment plant. The proposed improvements will allow the city to upgrade aging system infrastructure and address operational deficiencies while continuing to provide drinking water to customers and maintain compliance.
Sen Rose continued, “The fact that over $1.3 million of this project is ‘forgivable’ will be a direct benefit to the people of Hoopeston and help lessen the amount they pay for clean water”.
Illinois EPA’s State Revolving Fund includes two loan programs, the Water Pollution Control Loan Program which funds both wastewater and stormwater projects, and the Public Water Supply Loan Program for drinking water projects. Both programs provide funding at a low interest rate of just 1.81 percent for State FY24. These SRF programs receive federal capitalization funding annually, which is combined with state matching funds, interest earnings, repayment money, and periodic bond sale proceeds, to form the source of financing for these infrastructure projects. The state matching funds for State FY2020-2024 are being provided through Governor Pritzker’s bipartisan Rebuild Illinois Capital Plan, thus increasing the funding capacity of both loan programs.
For more information, please visit Illinois EPA News.
