This year’s legislature has allocated $ 2 million to restart the program
PORTLAND, Oregon (KTVZ) – An affordable loan program is once again available to Oregon homeowners and small businesses to repair or replace failed sewage treatment plants, the Oregon Department of Environmental Quality said Thursday.
Repairing or replacing failed sewage treatment plants will benefit Oregonians by protecting public health and addressing threats to water quality, the DEQ said.
The DEQ and regional nonprofit lender Craft3 are working together to make Craft3’s Clean Water Loans available across the state. Oregon lawmakers approved $ 2 million for the program in its final session, and Craft3 began accepting loan applications on Nov. 1.
“By helping those who are struggling to repair failing wastewater treatment plants, we can not only prevent damage to homes and property, but also improve public health outcomes for all Oregonians,” said Ken Helm of Washington County, Oregon state representative .
The affordable loan program offers homeowners flexible financing to repair or replace their failed sewage treatment plant. The program is also available to many small businesses that use sewage treatment plants, such as restaurants, grocery stores, and small prefabricated houses or RV parks.
Properly functioning wastewater treatment plants treat wastewater to minimize pollution of ground and surface water. A malfunctioning system can cause wastewater to land or enter waterways, posing a health hazard and damaging natural resources, the DEQ said.
These affordable loans not only cover all eligible costs for approval, planning and installation, but also provide ongoing maintenance if necessary. The loans have variable low interest rates based on the income of the borrowers and are designed to be accessible to borrowers who may not have perfect creditworthiness.
Oregon legislature established the program in 2016 (ORS 454,770), and DEQ has partnered with Craft3 to manage these loans from 2016 to 2020. Funds for this popular program ran out in 2020 and Craft3 stopped accepting loan applications in Oregon in June 2020. The new funding will resume the program this month.
Prior to the Oregon break, Craft3 provided more than $ 3.6 million in loans to 187 Oregon residents and small business owners to upgrade or install wastewater treatment plants with prior legislative funding. Loan recipients were in 92 cities and 28 of Oregon’s 36 counties. Of the total number of loans taken out, 32% of households had a low income or 80% of the region’s median income.
Oregon residents interested in learning more about the program and applying to apply can do so at Craft3.org/CleanWaterOre.
Via the Oregon Department of Environmental Quality
DEQ regulates the setup, design, installation and maintenance of sewage treatment plants in Oregon. DEQ manages on-site programs for wastewater treatment plants in five counties and oversees local administration by local authorities in the other 31 counties. For more information, see oregon.gov/deq/Residential/Pages/Onsite.aspx.
About Craft3
Craft3 is a US Treasury Department certified not-for-profit Community Development Financial Institution (CDFI). It provides loans to established nonprofits as well as growing and startups in Oregon and Washington – including those that do not qualify for traditional loans. It also helps families of all income groups fund energy upgrades, build additional housing units, and replace failing sewage treatment plants and aging prefabricated houses. Craft3 has offices in Astoria, Bend, Klamath Falls, and Portland, Oregon, as well as Port Angeles, Seattle, Spokane, and Walla Walla, Washington. Since its inception in 1994, Craft3 has invested more than $ 675 million in businesses, community projects, and families. Learn more at craft3.org.
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