From DEQ press release:
The Michigan Departments of Environmental Quality and Treasury today announced the award of 34 grants to Michigan communities to assist with the completion of needed water quality improvement efforts. Totaling nearly $10 million, these funds will cover up to 90 percent of the costs incurred by local units of government to complete the planning and design efforts required to apply for construction loan funding from the state’s clean water revolving fund programs.
The Michigan Legislature created the State Revolving Fund/Strategic Water Qualities Initiatives Fund, or "S2" Grant Program, in December, 2005 and approved the transfer of $40 million from the Great Lakes Water Quality Bond Fund. Coupled with the initial 67 grants awarded in November of 2006, this round of S2 grants brings total funding awarded to date to $37.3 million. Applications are currently under review for the remaining $3.3 million.
S2 grant assistance is only available to communities intending to access the State Revolving Fund (SRF) or the Strategic Water Quality Initiatives Fund (SWQIF) to finance project construction.
The SRF, which provides below market rate loan financing for the construction of wastewater infrastructure and non-point source water quality improvement projects, has been in operation in Michigan since 1988. Joined by the SWQIF in 2002, which funds wastewater system improvements undertaken on private property, these programs have tendered nearly $2.4 billion in loan assistance to Michigan communities to date.
The S2 grants and the revolving fund programs are jointly administered by the DEQ and the Michigan Municipal Bond Authority within the Department of Treasury.
“The S2 Grant Program will help local communities gain access to the SRF loan program and its low interest rate loans,” said State Treasurer Robert J. Kleine. “With the current loan rate at 1.625 percent, we anticipate that a number of communities will take advantage of this program to accelerate the completion of important water quality projects.”
A list of the S2 Grant award recipients is available on the DEQ Web page at:
tags: Michigan DEQ Grants Water Pollution Environment