AITKIN -- The Minnesota Public Facilities Authority, the state's primary infrastructure financing entity, is behind a $1,159,000 low-interest loan to finance the rehabilitation of Aitkin's wastewater treatment facility.
The measure is expected to save Aitkin taxpayers more than $426,000 during the loan's 20-year life. The loan has a below-market interest rate of 1 percent. The rehabilitation project is now in progress. Phased construction is expected to be completed by July 2004.
"Sound sewer, water and wastewater infrastructure is absolutely essential for communities to grow. Nothing illustrates this better than the developments in Aitkin," said Matt Kramer, Minnesota Department of Employment and Economic Development commissioner. Kramer is also chairman of the Public Facilities Authority.
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