The city of Grand Junction was approved recently for an $80,000 no-interest planning and design loan from the Iowa Finance Authority (IFA).
The loan will help finance expenses associated with the early stages of a
drinking water facility project.
Eligible expenses include engineering fees, archaeological surveys, environmental or geological studies, and costs related to project plan preparation. The loan is made available through the state revolving fund. Grand Junction is one of 11 Iowa communities to receive the loans, which are made for drinking water or wastewater facilities. "These new, unique loans address cities' needs to secure interim financing for the first phases of a facility," IOFA executive director Bret Mills said.