FOR IMMEDIATE RELEASE
Contact:
Jennifer Poland
Public Information
(760) 228-6267
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                                    March 18, 2015

Low Interest Loan From State Paves the Way for $15 Million Savings on Sewer Project

 

Yucca Valley, CA - F ollowing a presentation from Hi-Desert Water District (HDWD) staff, board members, and community partners, the State Water Resources Control Board (SWRCB) awarded HDWD with a one percent loan from the State Revolving Fund (SRF) to finance the district's planned sewer project. The loan's interest rate, which is lower than the SRF's traditional 1.6 percent rate, will save the community approximately $15 million dollars on the project.

 

Receiving a low interest loan from the State is one of the final steps in the process as HDWD develops a centralized sewer system to collect and treat wastewater currently being discharged by local septic systems. HDWD's proposed sewer project will enable local residents and businesses to comply with the State's prohibition at the lowest possible cost.

 

"We are pleased that the State Board sees the value of this important project for our community," said Ed Muzik, general manager of HDWD. "We are committed to protecting local water supplies and helping our residents comply with State regulations at the lowest possible cost to our community members. This low interest loan will help us achieve these goals."

 

A low interest rate will play a major role in reducing individual assessment costs for property owners.  In the coming months, local property owners will be voting to approve the special Assessment District that will secure the low-interest loan supplied by the State. The formation of a special Assessment District provides property owners with a financing plan to pay back their assessments over 30 years on their property taxes.

 

 The final Assessment Engineer ' s Report and individual property costs can be found at www.protectgroundwater.org/assessment-info .

 

If you would like more information about the Sewer Project, contact Hi-Desert Water District at (760) 365-8333 or e-mail [email protected].
  
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Hi-Desert Water District was formed in 1962. It provides water service to about 10,000 customers in the Yucca Valley and Yucca Mesa areas.  The mission of the district is to provide a safe, reliable water supply and Wastewater Reclamation System for its customers in an efficient and financially responsible manner. For more information about Hi-Desert Water District visit www.hdwd.com.