Tennessee Local Development Authority approves $231K loan for Plateau Utility District

The Tennessee Local Development Authority (TLDA) made significant strides in supporting local utilities during its meeting on May 19, 2025, with a focus on funding for clean water initiatives and assistance for communities affected by Hurricane Helene.

The meeting commenced with the approval of minutes from the previous session, followed by a report from Miss Jones on the Clean Water State Revolving Fund. The fund's unobligated balance increased to $245,558,242 after the Cleveland Utility Authority returned funds. The board reviewed a loan request from Plateau Utility District for $231,000, which is aimed at planning and design. This loan is particularly beneficial as it includes 50% loan forgiveness, amounting to $115,500, making it a vital resource for this disadvantaged community. The board unanimously approved the loan, reinforcing its commitment to supporting sustainable water management.

In addition to the clean water funding, the TLDA addressed the needs of utilities impacted by Hurricane Helene. Miss Jones reported that three utilities, including Irwin Utility Authority, have requested loan forbearance due to significant damage from the hurricane. The board is also preparing to host a webinar to discuss emergency response grants, anticipating around $55 million in funding to assist affected entities.

The meeting concluded with a notification from the town of Brighton regarding its intent to issue $428,000 in water and sewer bonds, which will be subordinate to existing loans. This step aligns with TLDA's policies and demonstrates ongoing efforts to ensure financial compliance among local borrowers.

Overall, the TLDA's actions reflect a proactive approach to enhancing water infrastructure and providing necessary support to communities in distress, ensuring that Tennessee's local utilities can continue to serve their residents effectively.