Eagle River moves ahead with applying for a low-interest capital projects loan.
Written by Jesse Baroka on October 5, 2020
EAGLE RIVER – Eagle River leaders move ahead with applying for a low-interest capital projects loan. According to officials the 40 year USDA Rural Development loan for $.87 million carries an interest rate of 1.125% and the proceeds will be combined with a Community Development Block Grant of $1 million for several projects including wastewater treatment plant upgrades an rehabilitation of the Forest Street Lift Station. Since lawmakers got the application in by the end of September the interest rate was lowered 1% from 2.125%.
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