Tuesday, July 07, 2009

North Dearborn Water Corp. Qualifies for Stimulus Grant

Nugent announces North Dearborn Water Corp.
qualifies for $688,000 grant in stimulus funds

STATEHOUSE (July 6, 2009) - State Sen. Johnny Nugent today announced that the North Dearborn Water Corp. qualifies for an estimated $688,000 grant from the American Recovery and Reinvestment Act of 2009 through the Indiana Finance Authority to complete improvements to the North Dearborn Water Corp. drinking water system.

"These stimulus funds will help save residents from having to assume the financial burden and pay higher fees to fund necessary infrastructure improvements," Nugent said. "This investment in water infrastructure will help not only to serve current residents by improving water quality, but also to prepare North Dearborn Water Corp.'s service area for future economic development opportunities.

Approximately $125 million in funds will be distributed through the recovery act to the Indiana State Revolving Fund, an existing program managed by the Indiana Finance Authority which makes loans to communities for wastewater and drinking water projects.For more information about the SRF Loan Program, visit the IFA Web site at www.in.gov/ifa/srf

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