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COLFAX — The City of Colfax Public Works department received a $5,105,525 loan for 20, years for water at a 1.38% interest rate.
Colfax Public Works Director Matt Hammer told City Council members in the Tuesday, Feb. 20 council meeting that the council had approved their application for a $6 million loan, which they ended up getting the $5 million instead.
Hammer told council members they also received $900,000 in grants.
“That’s going to go towards some of the booster station rehabilitation,” Hammer told the Gazette Thursday, Feb. 22, adding that a pump station pumps water to the reservoirs.
A booster station is where a collection of pumps are located strategically in a water distribution system. These stations maintain consistent pressure to provide adequate flow, which can move water through reservoirs into the water system.
Money will also go towards some new distribution mainlines for the City of Colfax.
The Public Works department is working on getting a statement of qualifications from engineers, which is due by Friday, Mar. 1.
Hammer said they would go through the letters with the public works committee and then select from there.
Hammer said that while it is hard to put a timeline on the construction right now, they expect it to take less than five years.
Hammer told council members Public Works is talking about using the money to upgrade pump stations, transmission lines and service lines.
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