The Georgia Environmental Finance Authority (GEFA) awarded a $1.5m loan/grant package to the Madison County Industrial Development and Building Authority (IDA) Tuesday to install water lines down Hwy. 29 North.
Executive director Marvin White said the IDA plans to use the funds to install over 10 miles of water lines from a connection on Hwy. 98 West, down Irvin Kirk Road and from there up Hwy. 29 North to the Franklin County line, where a master meter will be installed at the Franklin County line.
Madison County will pay 2.13 percent interest on the 20-year loan of $1.5 million, which includes principal forgiveness of up to $450,000 when all loan funds are used.
White said the IDA hopes the project can begin this summer and be finished by the end of the year.
The IDA currently has a water connection to the city of Royston on Hwy. 281 in the Harrison District.