The Lake City Council is looking at a State Revolving Fund (SRF) loan for future planning and design work within city limits. Earlier this week, city officials held a public hearing to inform residents they are using an SRF loan to help with water improvement in town. According to City Administrator Jacob Matthews, the funds from the loan are intended for the planning and design stage for a well water improvement project. An SRF loan is a fund administered by the Iowa Department of Natural Resources (DNR) and the Iowa Finance Authority (IFA) to provide low-interest loans for investments in water and sanitation infrastructure improvements. Matthews says the project is designed to increase the amount of water supply. However, it is still being determined when the project will start and how much Lake City will be awarded through the loan. The next council meeting is slated for Monday, March 6, at 5:00 p.m.
