CLEARBROOK, MN – On Thursday, Bagley was one of six Minnesota cities awarded a total of $8.77 million in grants and loans from the Minnesota Public Facilities Authority (PFA) for water infrastructure and sanitary sewer improvements.
Bagley received a loan of $538,157 from the Clean Water Revolving Fund to rehabilitate the sanitary sewer collection system and a loan of $490,913 from the Drinking Water Revolving Fund to replace cast iron watermains. The 20-year, 1 percent loans will save taxpayers $187,397 compared with the cost of conventional loans for the same amount.
"It's great that the PFA is able to assist small towns across Greater Minnesota with critical infrastructure projects like the ones in Bagley," said Rep. Matt Grossell, R-Clearbrook, state representative for District 2A, which includes Bagley. "The loans through the PFA will help make these projects a reality while at the same time saving taxpayers almost hundreds of thousands of dollars. It's a win for everyone involved."