City of Jasper receives $364K loan from DNR for design work on drinking water improvement project

(From Missouri Department of Natural Resources)

The Missouri Department of Natural Resources has awarded a $364,000 loan to the city of Jasper for planning and design work related to its ongoing drinking water improvement project.

These funds will provide vital interim financing to cover early engineering and administrative costs while the city works with the department to secure a larger loan and grant funding package for the project. The city expects the larger construction project to total $3.5 million and plans for construction to start in 2027.

The early planning phases of infrastructure projects often represent a significant financial burden for cash-limited communities with water and wastewater needs. The department’s goal for the planning and design loan program is to provide a cost-effective alternative to expensive private financing that allows communities to move forward with developing and delivering vital infrastructure projects for their citizens. These planning and design loans bear no interest and come with a five-year term. The department estimates its funding will save the city’s ratepayers approximately $77,000 in interest over the loan’s five-year term.

“While we often take it for granted, adequate water and wastewater infrastructure is critical to the quality of life of every Missourian and the sustainability of communities and industries throughout the state,” said Kurt Schaefer, director of the Department of Natural Resources.

The department’s Drinking Water State Revolving Fund finances improvements to water treatment plants, distribution systems and water storage and supply facilities. The fund also finances system interconnection and consolidation projects. Communities that borrow from the fund benefit from the below-market interest rate and from assistance a project manager provides throughout the project.

The department is committed to assisting Missouri communities with water and wastewater infrastructure improvement projects. Through its Financial Assistance Center, the department provides funding opportunities for qualified communities with water quality, wastewater and drinking water infrastructure needs. This project will be funded wholly or in part with monies received from the U.S. Environmental Protection Agency.

For more information on wastewater and drinking water funding opportunities, visit the State Revolving Fund (SRF) webpage.