Cornelia has been awarded a substantial $4,575,200 in loans from the Georgia Fund through the Georgia Environmental Finance Authority (GEFA) to enhance its water infrastructure, according to a press release from the city.
The Georgia Fund will provide a $1,329,200 loan to replace three pumps at the Hazel Creek raw water intake, improving flow capacity and operational efficiency.
A second loan in the amount of $3,246,000 will fund the installation of a new water main, addressing hydraulic constraints and bolstering fire flow capabilities. This project will reduce numerous potential health, safety, maintenance, and operational issues.
Both loans feature a low interest rate of 2.35% over 20 years, due to Cornelia’s designation as a Water First Community. The Georgia Fund through GEFA aims to support infrastructure improvements, fostering better water management and community development.
According to the press release, the Georgia Fund, a state-funded loan program, provides communities with low-interest loans for water, wastewater, water conservation, and solid waste infrastructure projects. Eligible projects include water and sewer lines, treatment plants, pumping stations, wells, water storage tanks, and water meters. These projects conserve and improve water resources and facilitate economic growth and development.
GEFA provides financing for a variety of energy, land, and water projects. Since 1986, GEFA has approved financial commitments totaling almost $6 billion to local governments,
businesses, and nonprofit organizations.
For more details, visit GEFA’s website or follow them on social media.
