The Georgia Environmental Facilities Authority (GEFA) Executive Director Chris Clark announced today the approval of a Georgia Fund loan of $884,600 for Rockmart.

The loan, approved by the GEFA executive committee, will finance the replacement and rehabilitation of sewer lines and connections.

“Infrastructure improvements increase quality of life for Georgia citizens, and they help cities and counties create jobs and promote economic development,” said Governor Sonny Perdue. “I’m pleased this investment is being made in sewer system infrastructure.”

“The Georgia Fund loan program is a tangible commitment by Governor Perdue and the General Assembly to assist local governments across the state with their efforts to provide clean water and sewer improvements,” said Chris Clark.

“In addition to the public’s health and safety, these projects are critical to communities across Georgia and to their ability to prosper economically.”

GEFA helps communities prepare for economic growth and development by providing low interest loans and grants.

The City will pay a 4.27 percent interest rate on the 20-year loan. The total project cost is $2,166,000 with the city providing $1,281,400 in local funds.

The Georgia Fund is a state funded program administered by GEFA for water, wastewater and solid waste infrastructure projects. The program has maximum flexibility and accessibility, and offers fast loan and grant approvals.

The Georgia Fund provides loans and grants to local governments for projects such as water and sewer lines, treatment plants, pumping stations, wells, water storage tanks and water meters. Low interest loans from this program range from $20,000 to $50 million.