March 16, 2015
TALLAHASSEE – This week the Florida Department of Environmental Protection’s Clean Water State Revolving Fund disbursed an additional $14,261,486 to Cape Coral, bringing the total project loans to $71 million, to enable the city to expand its potable water, sanitary sewer and irrigation water infrastructure to meet future demands of its growing community.
“The department is proud to support projects like this one, which benefit both our natural resources and communities,” said DEP Secretary Jon Steverson.
This project will provide potable water and municipal sewer services to approximately 5,200 residential lots, which are currently served by on-site septic tank/drainfield systems and potable water wells. Residents will have access to a more reliable water supply and sewer system. Moreover, water resources will be better protected by utilizing the city’s unified water supply and pollution control program, a 25-year effort by Cape Coral officials and the South Florida Water Management District to safeguard residents’ quality of life while also protecting natural resources.
In addition to pumping stations and other equipment, this project consists of more than 700,000 feet of irrigation and wastewater lines that will improve water reuse and reduce impacts to the environment by reducing overall withdrawals from natural freshwater aquifers and minimizing potential groundwater pollution in both canals and drain fields.
“The state revolving funds allow the city of Cape Coral to continue moving forward with these essential utilities projects,” said Paul Clinghan, Cape Coral’s utilities extension program manager. “These loans enable the City to keep the overall costs to our property owners lower than other available financing options.”
The Clean Water State Revolving Fund program was established in 1989 to provide low-interest financing for the planning, design and construction of wastewater and stormwater facilities, in compliance with the Clean Water Act. This program has awarded nearly $4 billion in loans since its inception, providing more than $1.4 billion in funding for 96 projects in just the past five years. Funded by federal grants, state matching funds, loan repayments and interest earnings, state revolving fund loans are offered at low interest rates. Repayments from earlier loans are used to make new loans, allowing the program to continue operating.
For more information on the State Revolving Fund program, click here.