Fostoria Moves Closer To Funding For Water Projects

6/22/17 – 5:36 A.M.

Fostoria is looking to secure around $13 million in loans for projects mandated by the EPA. The Review-Times reports the money would pay for two projects. One would eliminate the city’s combined sewer overflow. The second project aims to upgrade the reservoirs, water treatment plant, and storm water pump stations.

The city has factored payments on the loans into its five-year fiscal recovery plan.

Funding for the overflow project could come from a zero interest, five-year $675,000 loan for design work. Another zero-percent loan for $9.5 million would pay for construction. The city would pay it off over 20 to 30 years.

Fostoria’s Financial Planning and Supervision Commission gave conditional approval for the loans on Wednesday.

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