Wichita tax payers will not be paying as much for the new water treatment plant as first thought. On Monday, the city closed on a loan with the Environmental Protection Agency's Water Infrastructure Finance and Innovation Act. $280.9 million of the $500-and-50-million-dollar project will be financed with an interest rate of 1.17%, saving taxpayers nearly $100-million-dollars.
In a release the City of Wichita says the low interest rate will save Wichita water ratepayers millions of dollars. The City also hopes to get $267 million from the State Revolving Fund. That is expected to be approved early in the summer.
The site for the new treatment plant is near 21st Street North and the Wichita-Valley Center Floodway. Construction would begin in September of this year with completion planned for January 2025.
