HomeMy WebLinkAboutDEQ - ARRA Funding for WW ProjectMontana Department of
ENVIRONMENTAL QUALITY Brian Schweitzer, Governor
P.O. Box 200901 Helena, MT 59620-0901 (406) 444-2544 www.deq_state.mt.us
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June 16, 2009
JUN 1 8 2009
Bill Sheridan, Chief Administrative Officer
115 W. First Street CITY OF LAUREL
Laurel, MT 59044
Re: Laurel Wastewater Improvements, Project C303195-01
Dear Mr. Sheridan:
In an April 17, 2009 letter, we informed you that the project your community submitted for
consideration for SRF funds under the American Recovery and Reinvestment Act of 2009
(ARRA) had been selected to receive $194,953 in SRF funds. It is our pleasure to now inform
you that the amount has been changed to $750,000. The amount of forgiven principal is
$390,700. The remainder of the loan will be at either 1.75% or 0.75%, depending on whether
the community qualifies for additional subsidy based on affordability. That determination will be
made by DNRC as they evaluate rates and charges after a loan application has been submitted.
The loan terms are assumed to be twenty years and not to exceed the design life of the
improvements being funded. Final loan terms will be determined by DNRC.
If you have any questions, please feel free to contact me at #444-5322.
Sincerely,
%Lk
Michele Marsh, P.E.
Environmental Engineer
Technical and Financial Assistance Bureau
Cc (via e-mail): Nicole L. Swindell, Great West Engineering, Inc.
Carl Anderson, PE, Morrison-Maierle, Inc.
Anna Miller, DNRC, CARDD
Enforcement Division • Permitting & Compliance Division • Planning, Prevention & Assistance Division • Remediation Division