On August 29, 2016 the Minnesota Public Facilities Authority (PFA) approved a financing agreement to the City of East Grand Forks for improvements to their wastewater system. The PFA’s financing package consists of a $6,933,456 Clean Water State Revolving Fund 20-year loan with an interest rate of 1.039%. Once complete, the project will improve water quality by constructing a new lift station, an equalization basin and interconnect forcemain required to convey the City’s wastewater to the Grand Fork, ND wastewater treatment plant.
The Clean Water SRF is supported through a combination of federal capitalization grants from the U.S. Environmental Protection Agency, state matching funds, loan repayments, and bond proceeds from PFA revenue bonds. Since 1989, Minnesota's Clean Water SRF has received $744 million in federal funds. These funds have been leveraged almost 4 to 1 by the PFA to award more than 500 wastewater loans totaling over $2.8 billion.