ST. PAUL -- Aitkin was among four Minnesota municipalities approved for $12 million in loan and grant funding for water infrastructure projects, Minnesota Public Facilities Authority announced Wednesday.
“These projects will increase access to clean water and protect the environment,” said Gov. Tim Walz in a news release. “This represents a great investment in the health and well-being of our local communities.”
“Water infrastructure continues to be a vital resource for Minnesota communities,” said Steve Grove, commissioner of the Minnesota Department of Employment and Economic Development. “These projects represent an investment in the future health and economic growth of Greater Minnesota.”
Aitkin will receive $1,907,643 for the installation of a new watermain, hydrants and gate valves and the repair and replacement of sections of the sanitary sewer in the northwest part of the city. Funding comes in part from a 20-year 1% interest loan of $1,005,869 from the Drinking Water Revolving Fund. The loan is expected to save $85,160 when compared to the cost of market-rate financing. An additional $901,774 comes from a Clean Water Revolving Fund loan. The 20-year 1% loan is expected to save $76,604 when compared to market-rate financing. The Iron Range Resources and Rehabilitation Board will provide $250,000 and an additional $248,150 comes from local sources.
Other cities receiving PFA funding include Dassel, $2,436,100; Gibbon, $704,458; and Marshall, $7 million.