The Ben Davis Conservancy District has secured a significant deal to enhance its infrastructure, bonding $7.1 million at a minimal interest rate of 2.3% fixed for 35 years.
The funding, facilitated through the SRF, aims to line the district’s 75-year-old collection system to prevent stormwater and inflow issues, with the new infrastructure expected to extend the system’s life by a minimum of 50 years, resulting in tangible long-term savings for each bill payer in the community.
Notably, the reduced interest rate will save each bill payer $2.50 a month over the life of the loan, totaling $1,000 in savings per bill payer.
The closing date for the deal is March 5th, providing a clear timeline for implementation and realizing these substantial benefits for all members of the community.
