Overview of Proposed CSWCD Residential Septic System Loan Program
The Clackamas Soil and Water Conservation District (CSWCD/District) proposes to establish a revolving loan program to provide loans to homeowners in the Clackamas River Subbasin in Clackamas County for the repair or replacement of failed or failing residential septic systems to address water quality concerns. The Clackamas River provides drinking water for over 300,000 people. Homes with failing septic systems along the Clackamas River and its tributaries may be contributing bacteria to the system. This causes a water quality concern for water providers.
By providing access to financing, the program will provide a viable option – and in some cases, the only option – for homeowners to get their systems repaired. As the program matures, homeowner repayments will become a significant source of funding for new loans. The District will partner with other public agencies to inform and implement the program to get more conservation done on the ground and make public dollars go farther.
To finance this program, the Oregon Dept. of Environmental Quality has approved the District for a Clean Water State Revolving Fund loan of up to $250,000, payable over 10 years at 1.64% interest, with repayment beginning in approx. year 2020. The District will secure the loan from DEQ with property tax revenue and will repay DEQ using loan payments received from borrowers. The District is authorized to borrow money under Oregon Revised Statutes 568.550(1)(f).
The District will hold a public hearing on January 19, 2016, at 9:00 am, to receive comments on a proposed loan from DEQ to finance residential septic system repairs . The hearing will be held at the CSWCD office, 221 Molalla Ave., Suite 102, Oregon City, OR. Comments may be submitted at the hearing or by contacting Eann Rains, Conservation Investments Coordinator, at , 503-210-6005 before 8:30 am on January 19, 2016.
