The PFA awarded the project a $355,200 grant from the Water Infrastructure Fund and a $189,169 loan from the Drinking Water Revolving Fund. The 20-year, 1 percent loan will save the city $33,394 compared with what it would have paid for a conventional loan.
Bird Island will use the funding for the southeast looping project, including installation of new water main, hydrants and gate valves.
“Communities across Minnesota face serious water-quality challenges,” said Governor Mark Dayton. “Last spring, I worked with the Minnesota Legislature to establish a grant program to help cities afford to make water-quality improvements. These grants and loans will help the residents in Bird Island to afford the safe drinking water they deserve.”
“The Public Facilities Authority is committed to helping Minnesota communities improve their water and sewer systems,” said Shawntera Hardy, who chairs the PFA board and is commissioner of the Minnesota Department of Employment and Economic Development. “Since 1990, the PFA has financed more than 1,300 public infrastructure projects in over 590 communities statewide.”The Minnesota Public Facilities Authority provides financing and technical assistance to help communities build and maintain infrastructure that protects public health and the environment and promotes economic growth. Since inception in 1987, the PFA has financed $4.5 billion in public infrastructure projects in communities throughout Minnesota. Read more at the PFA website.