The City of Monmouth is in the process of applying for a loan from the Illinois EPA for phase two of the lead service line replacement project, reports City Administrator Lew Steinbrecher:
“The City is in the process of applying for a loan from the Illinois EPA in the amount of $3,027,000. This is for phase two of our lead water service line replacement project. Of that loan, $2,465,000 of it would be forgiven, leaving a balance of $562,000 to be financed at 40 years at zero percent financing.”
The application for the loan ordinance was approved by the Monmouth City Council, as was a resolution authorizing Mayor Rod Davies to sign the loan documents once received.
