The Clean Water Initiative dramatically expands the money available to local communities to replace the old systems at no cost to state taxpayers. This program frees up additional dollars at low borrowing rates and also removes some restrictions on earlier lending programs to make it easier for local governments to improve a community's water system, ensuring safe drinking water and improving waste water management.
"The Clean Water Initiative has only been in place for a little more than a year and the growth rate in funding under the Initiative has been substantial," said Meister. "Under the wise and steadfast leadership of Governor Pat Quinn and IFA Chairman Bill Brandt, this self-sustaining program clearly demonstrates that we can do more with less."
"The projects funded through this program help improve the quality of life for people throughout our state and will support the business climate for many years to come," said Governor Pat Quinn. "Furthermore, revenues generated from loan repayments can be used to meet the original state match requirement, rather than appropriations, which frees up Illinois tax dollars for other vital public programs."