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G'town, Floyd submit $1.4M loan application for wastewater plant


March 18, 2009
The Georgetown Town Council on March 9 approved an application for a Rural Development Community Facilities Loan that would be used to fund construction of the town's proposed wastewater treatment plant.

Floyd County Planner Don Lopp presented the loan application for the council to review and sign. The application, a joint effort by Georgetown and Floyd County, could afford the town up to $1.4 million to cover the cost of moving the proposed treatment plant from the O'Brien property to a site west of town as per the agreement Floyd County and Georgetown signed last year. The loan will be repaid over 40 years at 4.5 percent interest. Georgetown will be expected to do all it can to secure grant money and other funds to help repay the loan.

After unanimously approving the application, the five-member council signed it.

In response to Councilman Aaron Striegel asking how long it would take to get the loan, D.A. Andrews, the town's attorney, said Georgetown would probably know something within 20 days.

Andrews also informed Lopp that the town was 10 days away from sending appraisers to sites west of town.

In other matters, the council passed a resolution to allow Council President Billy Stewart to submit an application to the State Revolving Loan Fund program to help cover the cost of building the wastewater treatment plant, as well as allow Stewart to apply for future loans and grants without holding a public meeting.

The council also decided, 5-0, to allow the Jeffersonville firm Mills, Biggs, Haire and Resiert to appraise the town's Broadband system.

Karen Cook received an award on behalf of the American Red Cross for work during the recent ice storm. The American Red Cross Buffalo Trace Service Center in Georgetown had three shelters open in Floyd County.

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