The Minnesota Public Facilities Authority (PFA) recently announced $23.4 million in water infrastructure loans and grants St. James and several other Minnesota cities to improve water infrastructure in those communities.
“I am thrilled St. James was included in this round of PFA funding,” said Sen. Julie Rosen (R-Vernon Center). “Clean water is one of the most important services government can provide to its citizens, and the St. James projects are long overdue.”
St. James will receive $9,718,029 to replace aging sewer and water mains in conjunction with a Minnesota Department of Transportation (MNDOT) project to reconstruct Trunk Highway 4.
A Clean Water Revolving Fund (CWRF) loan of $2,953,592 and a Drinking Water Revolving Fund loan of $3,764,437 will cover the costs associated with the Highway 4 projects.
The 20-year 1% loans are expected to save a combined $631,583 when compared to the costs of market-rate financing.
A separate legislative appropriation will provide a grant of $3,000,000 to cover the cost of street and utility improvements in the northwest portion of the city.