Interest Rates
Environmental Improvement Fund
The current market interest rate is 4.300%. The chart below shows the interest rate by project type based on the current market rate.| PROJECT TYPE | PERCENT OF MARKET RATE | CURRENT INTEREST RATE1 | STATE SUBSIDY2 |
| Clean Water Fund Program projects to maintain compliance with existing effluent limits or to meet new or changed effluent limits |
55% | 2.365% | 19.2% |
| Clean Water Fund Program projects for Storm Water and Non-point |
65% | 2.795% | 15.1% |
| Clean Water Fund Program projects to sewer previously unsewered areas |
70% | 3.010% | 13.0% |
| Land Recycling Loan Program brownfield remediation projects |
0% | 0% | 39.4% |
| Safe Drinking Water Loan Program projects of municipalities with less than 10,000 population and MHIs less than 80% of the state MHI |
33% | 1.419% | 27.7% |
| Safe Drinking Water Loan Program projects of municipalities not meeting the above criteria |
55% | 2.365% | 19.2% |
| MARKET RATE | 100% | 4.300% | 0.0% |
1Current rates are effective as of February 1, 2008. These rates are subject to change whenever additional Clean Water Revenue Bonds are issued. 2The State Subsidy for planning purposes is the estimated subsidy cost expressed as a percentage of the loan amount. Any hardship grant award is a 100% subsidy cost. The Subsidy Cost is calculated using an assumed 6% market rate discounted at 7% for 20 years.
Last Revised: Monday February 18 2008
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