ST. PAUL - State Rep. Dean Urdahl, R-Acton Township, announces Howard Lake will receive two separate financing packages to replace a water main and improve its sewer system.
Favorable loan terms will save local taxpayers an estimated $2.1 million compared with local market rates according to the Minnesota Public Facilities Authority, which approved the loans.
Howard Lake will receive a $2.5 million loan for its sewer project, at a rate of 1 percent over 30 years. The PFA also approved a $2 million loan for the city at 1.217 percent over 30 years to conduct a water main replacement.
“Congratulations Howard Lake for its successful application and its commitments in improving the quality of drinking water and its handling of wastewater,” Urdahl said. “There is strong competition for limited PFA loan funds, so it is good to see Howard Lake submit such strong applications. It is crucial for us to maintain our infrastructure and Howard Lake’s taxpayers will save big-time money with the favorable terms of these loans.
Dean Urdahl represents District 18B in the Minnesota House of Representatives. The district includes most of Meeker County and a portion of Wright County. This is Urdahl’s third term in the legislature after being elected in 2002, 2004 and 2006.