Allegany County secures $3.7M water infrastructure loan
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Description
The County Commissioners of Allegany County have secured a $3,786,088 loan from the Maryland Water Infrastructure Financing Administration to finance water main and utility improvements along Winchester Road, serving the LaVale Sanitary District. The loan, issued through two series of bonds (2025A and 2025B), aims to replace and install new water infrastructure, with the 2025B bond potentially eligible for forgiveness after ten years based on compliance with the Safe Drinking Water Act.
Contract Details
Contract Amount
$3,786,088
Vendor
MARYLAND WATER INFRASTRUCTURE FINANCING ADMINISTRATION
Agency
Cumberland Area MPO, MD
Contract Type
Loan
Document Date
June 26, 2025
Contract Term
31 years
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