Franklin Secures $17.6M State Revolving Fund Loan for Second Wastewater Treatment Plant Design
City of Franklin Water and Sewer Department, Tennessee · Meeting date: July 14, 2026 · Published: July 15, 2026
The City of Franklin has formally acknowledged a $17.6 million State Revolving Fund loan, featuring $5.8 million in principal forgiveness, to fund the design phase of a new wastewater treatment facility anticipated for completion by 2034.
Key points
- The Board of Mayor and Aldermen acknowledged the State Debt Report for SRF Loan 2024-10695 during their July 14, 2026, meeting.
- The $17,609,000 loan includes $5,800,000 in principal forgiveness and carries a 2.35% interest rate.
- Funding will be utilized by the city's Water and Sewer Utility strictly for the design of a second wastewater treatment plant.
- The new treatment facility is currently projected to reach completion in the 2033 to 2034 timeframe.
Full report
The City of Franklin, Tennessee, is advancing plans for a major wastewater infrastructure expansion after acknowledging a $17.6 million State Revolving Fund (SRF) loan to fund the design of a second wastewater treatment plant.
During the July 14, 2026, Board of Mayor and Aldermen meeting, city officials formally received the State Debt Report for the SRF loan. The financial package provides $17,609,000 for the city's Water and Sewer Utility, featuring $5,800,000 in principal forgiveness.
According to the staff report provided by Assistant City Administrator and Chief Financial Officer Kristine Brock, the debt service will be repaid by the Water and Sewer Utility with a final maturity date of June 2031. The loan carries an interest rate of 2.35 percent alongside a state administrative fee of 0.08 percent. The debt obligation was officially dated June 24, 2026.
The dedicated design funding marks a critical milestone for Franklin's long-term utility planning. The new facility will serve as the city's second wastewater treatment plant, a necessary capacity addition for the municipality. Once designed, construction of the new plant is currently anticipated to reach completion in the 2033 to 2034 timeframe.
This summary was generated by AI based on the source document and may contain errors.
Source: Board of Mayor and Aldermen Meeting, City of Franklin Water and Sewer Department