The City of Altamont continues to weigh its options regarding a major repair project for the City's sewer system.

 

The Altamont City Council has been considering taking out a $2.6 million loan through the Kansas State Revolving Fund to pay for the work. At their most recent meeting, council members heard from Ben Coltrane with Midwest Engineering about the potential loan. He says the rate for the 30-year loan would be 3.36%.

 

The State Revolving Fund is a set of low-interest loan programs that help communities pay for water infrastructure projects. These funds are “revolving” because repayments from earlier loans are reused to finance new projects over time. The programs are administered by the Kansas Department of Health and Environment with funding support from the U.S. Environmental Protection Agency.

 

No action was taken on the issue as council members continue to gather information before making a decision on the loan.