10/14/09 - Carroll County
State and local
leaders met near Huntingdon for the
announcement of a loan to finance the Carroll County
Lake Watershed Enhancement project, Wednesday. The project is
aimed at moving the completion of the lake forward
and also making it environmentally friendly. The
generous loan of $3 million is coming from the State
of Tennessee.
"The beauty of this
we've tied it together between the Clean Water State
Revolving Fund and the stimulus monies.
Actually, 40 percent of that loan is forgiven from day
one. So, right off the bat, there's a real
benefit," said Tre Hargett, the Tennessee Secretary
of State.
The remaining 60
percent of the 20 year loan is set at a very low
interest, making it easy for the county to pay back
the loan. The project, besides being financially
feasible, is also environmentally beneficial and
will make the lake and its surroundings a safe place
for family outings. "We had 119 acres of wetlands,
we'll put 300 acres back into the wetlands. In
addition to that we're restoring 2.3 miles of
channel to its original state, which has never been
done before," said Huntingdon Mayor Dale Kelley.
The loan is expected
to be approved by the
Tennessee Local Development Authority at its
meeting, October 26. Then,
developers will submit their bids for the
project. Clearing of the land should begin within a
few months of the loan approval. The lake is
expected to be completed sometime in 2012.