Elwood to Receive Federal Stimulus Funds for Public Water Projects

INDIANAPOLIS, IN – Elwood is one of 43 Indiana communities that will receive federal stimulus grants to fund wastewater and drinking water infrastructure projects, according to an announcement made this week by the Indiana Finance Authority. State Senator Tim Lanane (D-Anderson) said he is glad to see federal stimulus money used for needed infrastructure upgrades in Hoosier cities and towns and hopes the investments will promote job growth in the local communities.

Elwood will receive $920,000 in American Recovery and Reinvestment Act funds from the federal government. The state will provide an additional $1,380,000 in low-interest loans to cover the total cost of the projects. In Elwood the grants were awarded for the projects to upgrade water filtration and pumping plants, make well improvements, and a new maintenance building.

“The federal stimulus funds, leveraged with low-interest state loans, will move these projects off the waiting lists,” Lanane said. “This will be an important investment for Elwood, and I’m happy the city was in a good position to take advantage of this opportunity.”

The 43 local projects now receiving grants were previously approved by the Indiana Finance Authority, and have been on waiting lists for state loans.

The state loans are provided through the State Revolving Fund Loan Programs which provide eligible entities with the lowest interest rates possible on the financing of improvements to public wastewater and drinking water infrastructure.

For more information on Sen. Lanane, his legislative agenda or other State Senate business call 1-800-382-9467 or visit www.senatedemocrats.in.gov.