Montana Governor Steve Bullock announced a $2.9 million loan to the City of Culbertson to
make critical upgrades to its aging wastewater treatment plant.
"This project is the perfect example of government working efficiently for Montanans to create goodpaying jobs," said Governor Bullock. "And we're doing this all while encouraging responsible growth that protects our natural resources as we prepare Eastern Montana communities for further growth and development."
The $2.9 million State Revolving Fund (SRF) loan will finance replacement of the city's existing lift station, construction of a new sewage lagoon system, replacement of more than 3,000 feet of sewer line, and other improvements.
Construction of the new system began in July, and is scheduled for completion in December of this year. The 20-year loan will draw a low interest rate of 3 percent. The city also received a $100,000 Renewable Resource Grant from The Montana Department of Natural Resources (DNRC) for project planning and design.
Communities across Montana are currently taking advantage of the state's reduced borrowing costs and restructuring their SRF loans to save even more. As of August 1, 2013, a total of 39 cities and towns have saved more than $35 million through the program.
The SRF loan program is administered by DNRC and the Montana Department of Environmental Quality (DEQ). These loans are meant to enable Montana communities to upgrade or expand critical drinking or wastewater treatment facilities at the lowest possible cost. More information on SRF program is available at the Montana DNRC website: http://dnrc.mt.gov/.