Friday August 4, 2017 09:16AMon
According to a recent article in the Southside Sentinal, authored by Tom Chillemi, "the Middlesex Water Authority (MWA) voted on July 31 to accept a $3 million grant and a 2% interest rate loan from the U.S. Department of Agriculture (USDA). The funding moves the $18 million Eastern Middlesex Water Project forward with the plan to pipe water from Rosegill near Urbanna to Topping and as far east as Stingray Point in Deltaville.
The MWA is an “authority” and is separate from the Middlesex government, and as an authority the customers would pay for the water system. The MWA will have 517 water customers, which is enough to pass scrutiny of the USDA’s regional office.
The USDA will loan the MWA $12 million at 2% interest for 40 years, said Tara Delaney of the USDA’s rural development office in Richmond. The USDA will grant $3 million. Customer paid connection fees will generate $2.97 million. The annual loan payment will be $454,800.
On July 31, the MWA voted to authorize MWA board chair Greg Chambers to sign the USDA letter of conditions, which must be returned to the USDA by August 3."
FBYC signed a Subscription Agreement and paid the deposit earlier this summer. We are hopeful that this USDA funding will move the project across the finish line.