Waseca Approved For Loan To Update Sewer System
The city of Waseca is receiving over 6 million dollars in loans to upgrade its sewer system.
The funds come from the Minnesota Public Facilities Authority, which approved a total of over $28 million for water and sanitary sewer projects in four cities across the state.
The city of Waseca will be replacing water distribution and sewer collection lines along Elm Avenue.
Waseca was approved for a $2.5 million loan from the Drinking Water Revolving Fund and a $3.6 million loan from the Clean Water Revolving Fund.
The Minnesota Department of Employment and Economic Development says the two 15-year, 1 percent loans will save the city more than $775,000.
That's compared with the cost of conventional loans of the same amount.
--KEYC News 12