City of Comfrey 2016 Project

    On August 4, 2016 the Minnesota Public Facilities Authority (PFA) approved a financing agreement to the City of Comfrey for water tower rehabilitation, well sealing and improvements to their drinking water system. The PFA’s financing package consists of a $861,850 Drinking Water State Revolving Fund 20-year loan with an interest rate of 1.036%. Once complete, the project will improve water quality by updating the water treatment plant that serves the residents and businesses in Comfrey.

 The Drinking Water SRF is supported through a combination of federal capitalization grants from the U. S. Environmental Protection Agency, state matching funds, loan repayments and bond proceeds from PFA revenue bonds. Since 1997, Minnesota has received $339 million in federal drinking water funds. These funds have been leveraged more than 2 to 1 by the PFA to award more than 356 drinking water loans totaling over $725 million.