August 22, 2017

The Village of Roselle recently opened bids from contractors for F.O.G. removal equipment at Botterman STP and digester covers at Devlin WWTF. The project will be funded through the Illinois EPA Low Interest Loan Program. The loan was approved by the IEPA at an annual simple interest rate of 1.32%! New this year to the loan program is the ability for a borrower to qualify for the Small Community Rate in accordance with IL 365.210(b)(3), which for communities with a population below 25,000 people reduces the base interest rate by 25%. This reduction in interest rate from 1.76% to 1.32% represents a savings of over $64,000 in interest payments over the 20-year life of the 1.291 million-dollar loan for this project – a savings of over $3,200 per year!