The Town of Alexandria will soon be getting a little help from the U.S. Department of Agriculture to help with substandard water line developments.
Congressman Bill Owens today made the announcement that Alexandria will receive a loan in the amount of $1,018,000 and a grant of $750,000.
The rural development funds will help to replace the existing substandard water lines in the town, as well as to construct a new water distribution system to increase the number of residents and business that can be served.
“This funding is critical as we work to improve the region’s aging infrastructure,” said Congressman Owens. “Updating and enhancing the ways residents in Jefferson County receive basic services is one of the first steps to attracting new businesses that will hire locally and put the unemployed back to work.”
The $1,018,000 loan from the USDA to the Town of Alexandria will be borrowed over a term of 38 years at 2.25 percent interest.