The Wichita City Council approved another loan agreement from the state of Kansas, to finance the construction of the water treatment facility in northwest Wichita.
This third loan from the state is worth $75 million. State revolving funds, or SRF loans, will finance 48% of the project: $267.3 million of the $553 million total.
Penny Feist with the city said they will save around $27 million in interest by using SRF loans compared to traditional revenue bonds.
When the new plant becomes operational in late 2024, it will provide up to 120 million gallons of drinking water per day to the city.
In related news, the council also approved $8.26 million for 8 new water pumps at the Hess Pump Station. The station was constructed in 1974 and is a vital component for delivery of water throughout the city.
