Caryville, Caryville-Jacksboro Utilities Commission approved for state loan for infrastructure upgrades

(TDEC press release) Thursday, Tennessee Gov. Bill Lee and Tennessee Department of Environment and Conservation (TDEC) Commissioner David Salyers announced a $493,000 loan for the Town of Caryville and the Caryville-Jacksboro Utilities Commission to improve water infrastructure. 

The loan is one of six approved by the Tennessee Local Development Authority, along with two loans for the Town of Huntland totaling $3.9 million and three loans for the Metropolitan Government of Nashville and Davidson County totaling $44.1 million, making the overall total of loans announced today $48.5 million.   

The Town of Caryville and the Caryville-Jacksboro Utilities Commission loan comes from the Clean Water State Revolving Fund Loan Program. It will address improvements to the wastewater treatment plant. The loan has a 20-year term at 0.54 percent interest.  The Town of Caryville and the Caryville-Jacksboro Utilities Commission received $49,300 in principal forgiveness with the remainder of the loan amount to be paid back. 

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 $37,374,000 in drinking water loans and $150,479,900 in clean water loans to meet the state’s infrastructure needs. During fiscal year 2019, TDEC awarded $13,345,300 in drinking water loans and $83,324,500 in clean water loans for a total of $96,669,800. 

Tennessee’s Clean Water State Revolving Fund Loan Program has awarded more than $2 billion in low-interest loans since its inception in 1987. The state’s Drinking Water State Revolving Fund Loan Program has awarded more than $300 million in low-interest loans since its inception in 1996.

About Jim Harris

Jim Harris has been WYSH's News & Sports Director since 2000. In addition to reporting local news, he is the play-by-play voice for Clinton High School football, boys' and girls' basketball and baseball. Catch Jim live weekdays beginning at 6:20 am for live local news, sports, weather and traffic plus the Community Bulletin Board, shenanigans with Ron Meredith and more on the Country Club Morning Show on WYSH & WQLA. Jim lives in Clinton with his wife Kelly and daughter Carolina, his mother-in-law and cats Lucius and Oliver.

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