2 days ago
$16.5M Storm Water Revenue Bond secured by the city of Norfolk
NORFOLK, Va. (WAVY) – The City of Norfolk issued a $16.5 million Storm Water Revenue Bond through the Virginia Clean Water Revolving Loan Fund on May 29, which is designed to fund storm water infrastructure improvements across Norfolk.
The various projects include enhancements to St. Paul's Blue-Greenway and restoration of shorelines and wetlands across the city.
The total cost of the project is expected to reach nearly $18.5 million, but the city is receiving nearly $2 million in principal forgiveness. This means the remaining balance will come at no extra cost to Norfolk.
For more information on the project visit the link .
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