Low interest loan for well replacement

By News Team
ads@fillmorecountyjournal.com

Fri, Jul 16th, 2010
Posted in Home & Garden

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The Fillmore Soil and Water Conservation District (SWCD) is planning on pursuing funding to initiate a revolving low interest loan fund for well replacement in Fillmore County. The fund will operate similar to the revolving loan fund that was established for septic system upgrades. The interest rate will likely be two to four percent, and the loan duration 10 years. To prepare for the next Clean Water Fund (CWF) funding cycle and improve the chances of getting funded, the SWCD is seeking interested well owners. The SWCD has established the following funding criteria to prioritize fixes:

1. Contamination (Nitrate > 10 ppm, bacteria present)

2. Multi-aquifer well

3. Flooding (or in the 100 yr. floodplain)

4. Pre-code (well drilled prior to 1974)

If you would be interested in a low interest loan for drilling a new well, and meet one or more of the previously mentioned criteria, please contact Joe Magee at 507-765-3878 ext. 109 or joe.magee@fillmoreswcd.org. The SWCD will submit a list of interested well owners with its grant application in the summer/fall of 2010. It should be noted that there may be some up front costs for determining eligibility (i.e. - paying a well contractor to determine if you have a multi-aquifer well). Any up front costs can probably be rolled into the loan if the SWCD receives funding. Contact Joe Magee at the Fillmore SWCD with any questions, comments, or concerns.

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