City of Commerce eyeing major water loan
Commerce – The City of Commerce is one step closer to making some major improvements to the City's water system.
The City Council last week approved a resolution requesting financial assistance from the Texas Water Development Board. The City will now move forward with the application process which, if approved, would provide a loan in the amount of $2.74 million at 0% interest.
Last year, the City approved a loan from the Water Development Board for $2.474 million, but with 2.8% interest. The money was not used and the loan later abandoned.
With loan approval, the City would tackle a number of projects, including improvements to the water treatment plant, raw water pipeline and raw water intake structure. Following completion of all projects, an estimated 7.3% would be left over for contingency or unforeseen circumstances.