The Associated Press
Updated: October 02, 2020 12:19 PM
Created: October 02, 2020 12:18 PM
SANTA FE, N.M. (AP) — A state panel that oversees water quality and permitting issues across New Mexico has approved lower interest rates for a program that helps finance water projects.
The Water Quality Control Commission made the decision during a recent meeting. The loan program funds improvements for wastewater treatment plants, water conservation efforts and agricultural management.
New Mexico Environment Secretary James Kenney says many communities were waiting for the change since it allows greater access to capital for such critical projects.
The agency estimates that up to 400 communities could benefit.
Under the change, the maximum interest rate was slashed by more than half to just 1%.
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