Full Notification

City of East Chicago Finances Needed Water Projects
Funding will be used to complete needed improvements the City’s Water system and initiate a Lead Service Line Replacement Program.
INDIANAPOLIS, June 2018— The City of East Chicago closed two low-interest loans, in the aggregate amount of $18,000,000, through the Indiana Finance Authority’s Drinking Water State Revolving Fund (SRF) Loan Program to finance improvements to the City’s drinking water distribution system. By utilizing the SRF Loan Program instead of securing a traditional loan, East Chicago will save approximately $6,346,332 dollars in interest costs over the life of the loans.
The SRF Loan Program is administered by the Indiana Finance Authority with joint funding from the U.S. Environmental Protection Agency and the State of Indiana. The City’s project includes the installation of water meters, an advanced metering infrastructure system, a bulk water filling station, the construction of a new water storage tank and the initiation of the City’s lead service line replacement program. The project will ensure the City is able to continue to provide a source of reliable water and further protect the public health of residents and businesses in the East Chicago service area.
SRF Loan Programs operate in all States to provide the resources necessary to maintain and improve the infrastructure that protects our valuable water resources. Communities can get more information about obtaining an SRF loan by contacting Stephanie McFarland at (317) 709-8728, [email protected], or by visiting www.srf.in.gov.