City of Myrtle Beach getting nearly $7.5M in loans for utility projects
Published: Mar. 24, 2023 at 12:26 PM EDT
MYRTLE BEACH, S.C. (WMBF) - The City of Myrtle Beach is getting a financial boost toward utility projects in the area.
The city said Friday that it is receiving nearly $7.5 million in State Revolving Fund loans that include “significant interest savings for the city.”
Officials added the loans charge 1.4% interest, which totals $2.5 million in savings over current market rates.
“Bidders must comply with the ‘American Iron and Steel’ provision and certify that all iron, steel and manufactured goods used in the project were produced in the United States unless a waiver is granted by the EPA,” the city said in its announcement.
A list of the projects was also provided:
- Upgrading the pressure-reducing valves on water lines. Officials said the 11 existing valves “will be rehabilitated, and nine new pressure-reducing valves will be installed to protect the water distribution system. " It will also stretch eight miles along Highway 17 from Harrelson Boulevard to Grande Dunes Boulevard.
- The winning bid for the project totaled $2,168,948.
- Installing diesel-powered pumps at 16 sewer lift stations “to prevent overflows and spills in the event of a power outage from a hurricane or other cause.”
- The winning bid for the project totaled $4,701,000.
- Improving the stormwater system in the Broadway Wetland Stream, specifically the pond upstream from Broadway Street. Settling basins with native grass will also be installed " to slow and filter stormwater before continuing downstream to the Atlantic Ocean.”
- The city expects the project to total around $600,000.
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