PFA awards Staples $16M for water infrastructure projects
The Minnesota Public Facilities Authority awarded $18 million in funding for water infrastructure projects in Lakefield and Staples.
Staples received $16,112,280.
“These projects will protect Minnesota’s waterways for generations to come,” Steve Grove, Public Facilities Authority chair and commissioner of the Minnesota Department of Employment and Economic Development, stated in a news release. “Clean drinking water is necessary for all aspects of the Minnesota economy to function.”
Staples is constructing a new Class B wastewater treatment facility that will include improvements to reduce the discharge of phosphorus and mercury. Funding for the project comes from a Point Source Implementation grant of $7,000,000, a Water Infrastructure Fund grant of $3,060,681 and $6,051,599 loan from the Clean Water Revolving Fund . The 1.599% Clean Water Revolving Fund loan is expected to save $267,288 when compared to the cost of market-rate financing.
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 its inception in 1987, the authority has financed $4.5 billion in public infrastructure projects in communities throughout Minnesota. Read more on the PFA website .