Logansport Utilities has been awarded millions of dollars in grant money to help replace the city’s water service lines.
The “State Revolving Fund (SRF) Loan Program provides grant money and low-interest loans to Indiana communities for projects that improve wastewater and drinking water infrastructure.
In Logansport Utilities’ continuous mission to bring safe, clean, and reliable drinking water to Logansport residents, the company applied for $24 million dollars to replace 4,500 service lines in the city. The SRF has agreed to award and fund 80% of the company’s requested funds with grant money, which will not have to be repaid. The request will be broken down into thirds, with $8 million dollars to be requested and be awarded each year for three years. This year Logansport Utilities will obtain $6.4 million dollars in grant money and borrow the additional $1.6 million dollars with 0% interest on a 30-year loan from the SRF. The same process is planned for the next two years.
Once the 4,500 service lines are replaced over the next few years, residents can expect improved
quality water and higher water pressure in their homes and businesses.
SOURCE: News release from Logansport Utilities
About Logansport Utilities (formerly Logansport Municipal Utilities: LMU) is a municipal owned, board
operated electric and water utility serving the city of Logansport and surrounding county areas in northern Indiana. Started in 1894, the utility offers carbon free electricity and clean water to more than 20,000 residents and businesses. LU continues to serve and drive redevelopment in the region. For more information about LU: logansportutilities.com