ST. PAUL – State Rep. Paul Anderson, R-Starbuck, announces the Minnesota Public Facilities Authority has approved the city of Appleton for $1.9 million in state financing for drinking water infrastructure.
The funding is provided through three separate streams, including a pair of grants totaling more than $1.5 million and a $385,727 loan. In addition to the grant dollars awarded, the PFA estimates that the loan – 30 years at 1.391 percent – will save local taxpayers approximately $168,609 in interest costs compared to market-rate financing.
“Congratulations to the people of Appleton for gaining this financing and to the local officials who submitted this successful application,” Anderson said. “It is nice to see this sizeable funding come through so this important work can move forward without putting the full burden on local taxpayers. It’s a win for the Appleton community and is an example of good work PFA does to support our local infrastructure.”
More PFA information is available at www.mn.gov/deed/pfa.
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