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RCAC loan clears water compliance path
January 13, 2009
West Sacramento, Calif. — Rural Community Assistance Corporation (RCAC) recently provided Indian Valley Community Services District (CSD) with a $205,000 loan needed to complete design engineering and bidding on a project to bring its water system into compliance with safe drinking water standards.
California Department of Public Health and USDA Rural Development have approved $1.5 million in funding for improvements that will bring the water system into compliance. However, both agencies require a completed and approved engineering design before making their funds available for construction. The RCAC Loan Fund filled the gap with a loan to pay for the required design engineering expenses.
Indian Valley CSD is the local government for Greenville, Taylorsville, Crescent Mills, Canyon Dam and Genesee. Indian Valley CSD provides a range of services including water, wastewater, recreation, lighting, fire protection, ambulance and a museum. The organization’s mission is, "To provide and manage the necessary services for our communities’ health, safety, well being, and prosperity."
Greenville
is the largest community in IndianValley and offers a full range of business and services to a permanent population of approximately 2,500 residents.
According to the 2000 Census, the median household income for Greenville is $23,309.
The Greenville water system is in violation of the Surface Water Treatment Rule and bacteriological standards under the EPA National Primary Drinking Water Standards, however, with the RCAC loan, the community is well on its way to achieving compliance.
Certified as a Community Development Financial Institution (CDFI) in 1996, RCAC operates a $65 million Loan Fund that provides low-interest loans for affordable housing, community facilities, water and wastewater systems and more. The fund each year provides scores of loans to organizations and small communities that often cannot acquire financing through traditional lending institutions.
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