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|Knoxville Ready for Federal Stimulus Money
|The Knoxville City Council wants its piece of the economic stimulus pie that's coming to the State of Illinois. The Knoxville City Council Monday night, decided to go through the process of submitting three different projects, in the hopes of receiving federal funds towards the payment of those projects.
The council, and the engineering firm of Bruner, Cooper, and Zuck, will submit repainting the outside of the water tower for $190,000, cleaning and repainting steel structures at the sewage treatment plant for $150,000, and $350,000 for the new building for the sludge drying beds. Steve Bruner from the engineering firm tells the council their are multiple advantages to applying for the federal money.
"If you have a project you're thinking of doing, for the next 20 years, you're going to be paying those 2009 dollars through 2029," Bruner said. "So that's an advantage. You're beating inflation, you have zero percent interest, and a 25-percent grant."
Bruner explained to the council the money will be coming from the federal government to the Illinois Environmental Protection Agency and will be loaned out to cities from a revolving loan fund. Among the guidelines, if the all projects get approved for a total of $690,000, $172,000 of that would be a free grant, while the city would be on the hook for $517,000 at a repayment rate of zero percent for 20 years.
He said both him and Mayor Phil Myers have submitted pre-applications for those projects and just waiting to file formal paperwork with the IEPA.
|03 03 09 by Newsroom
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