The Village of Sunrise Beach has been placed on the Missouri Clean Water Commission's Fundable List to receive a low interest loan to help construct the first phase of a wastewater treatment system in town.
The potential loan of up to $6,102,000 from the State Revolving Fund (SRF) was awarded by the commission, under the Missouri Department of Natural Resources. Sunrise Beach has two years to utilize the loan which should have an interest rate of around 1.5 percent.
While the line of credit is large, the estimated cost to construct phase one is currently at roughly $2.5 million.
The SRF loan award was based on the original goal to sewer the entire Hwy. 5 corridor from the northern city limits to the southern border at the Hurricane Deck Bridge.
Since the original application, feasibility studies have resulted in the Sunrise Beach Board of Trustees narrowing the scope of the project.
In April, the village trustees approved moving ahead with plans to sewer along the Highway 5 corridor from the Hurricane Deck Bridge area to Lake Road 5-39. In addition to the collection system, the project cost will include buying an existing plant on Forsen Park Rd., expanding the plant and adding an equalization tank at the treatment site.
In addition to the low interest loan, Sunrise Beach also has a $500,000 Community Development Block Grant to help fund the project.
Schultz Surveying & Engineering is estimating that construction of phase one sewer will begin in the spring of 2013, if not sooner.
The state funding of the Sunrise Beach project was made feasible through a transfer of funds that involved MDNR and the U.S. Environmental Protection Agency.
According to minutes from the Missouri Clean Water Commission meeting in Jefferson City Sept. 5, the 2013 Clean Water SRF Intended Use Plan contained approximately $138 million worth of projects that met readiness criteria but were not funded due to lack of money - among these Sunrise Beach.
In an analysis of the Drinking Water SRF and the Clean Water SRF, state and federal staffs determined that up to $22.5 million in federal funds could be transferred to help some of these projects proceed. Reviewing the project lists of both of these SRF programs, $18.5 million was also transferred from the Drinking Water SRF to the Clean Water SRF.