For more information contact: Charlie Vander Aarde 651-297-8406
(ST. PAUL) – The city of Tyler, Minnesota was recently awarded a low interest loan and grant from the Minnesota Public Facilities Authority to replace the city’s water main and install a 150,000 gallon elevated water storage tank or water tower. The PFA financing package consists of a loan in excess of $5 million as well as a grant of $476,000.
State Representative Andrew Falk (DFL-Murdock) lauded the loan which will charge one percent interest over 30 years. “The state grant to Tyler will save local taxpayers at least $2.4 million in interest costs," said Falk. “The state recognizes the importance of local infrastructure projects like this one in Tyler and makes low interest loans available to local governments.”
“Infrastructure projects like the one in Tyler are important to local economies across the state,” explained Falk. “These projects create jobs for skilled workers who want to work but have been unable to due to a slow economy. Projects that improve the health and quality of life of Minnesotans are wise and cost effective long term investments.”
Falk praised local officials for applying for the drinking water grant. “Tyler is to be commended for being wise stewards of limited public dollars and protecting local taxpayers,” said Falk. “It is wonderful that they were approved for something so important to the long term health of the community.”
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