ST. PAUL – State Rep. Steve Green, R-Fosston, announces the Minnesota Public Facilities Authority recently approved a $3.1 million financial package to help Frazee construct a new drinking water treatment plant and well.
The financing involves a $1.4 million Drinking Water Revolving Fund loan at 1-percent interest, along with a DWRF principal forgiveness grant of $1.6 million. The PFA indicates the favorable terms will save local taxpayers nearly $69,000 compared with market-rate financing.
“Congratulations to the people of Frazee for earning this award,” Green said. “Drinking water is a key component of our local infrastructure and this project is a good example of what legislators envision with PFA funding.”