Chambana Sun

State Sen. Chapin Rose (R-Mahomet) has announced the allocation of over $31.5 million for water-related infrastructure projects in east central Illinois, funded by the Illinois Environmental Protection Agency (Illinois EPA). The funding is aimed at upgrading drinking water and sewage systems in the Sangamon Valley Water District, City of Hoopeston, City of Newman, and Village of Rantoul.

"Investing in water infrastructure is an investment in the future of our communities," Sen. Rose stated. "With aging infrastructure and increasing environmental challenges, these projects are vital to provide clean and safe water for the impacted communities."

The breakdown of funds is as follows: Sangamon Valley Public Water District will receive $10,513,832; City of Newman will be granted $463,323; Village of Rantoul will get $17,932,603; and City of Hoopeston will receive $2,654,918 for their respective water infrastructure projects. Some projects qualify for partial loan forgiveness – a significant advantage to local citizens.

The Illinois EPA's State Revolving Fund comprises two loan programs: the Water Pollution Control Loan Program which supports wastewater and stormwater projects; and the Public Water Supply Loan Program designated for drinking water projects. Both programs offer funding at a low interest rate of 1.81 percent for State FY24.

These SRF programs obtain federal capitalization funding annually which is then combined with state matching funds, interest earnings, repayment money, and periodic bond sale proceeds to finance these infrastructure projects. The state matching funds for State FY2020-2024 are being provided through Governor Pritzker’s bipartisan Rebuild Illinois Capital Plan, thus enhancing the funding capacity of both loan programs.

For more information on this initiative please visit Illinois EPA News.