Woodbury Cannon County, 6th Congressional District
The project is to replace a 300,000 gallon water tank with a 750,000 gallon water tank in the Parker Hill area of Cannon County. The existing tank was corroding and rusting resulting in severe leakage of up to 5,000,000 gallons of water annually. The project is benefitting nearly 8,500 people.
Without CDBG funds this project would likely have been funded through a bond issue or a loan program, such as State Revolving Fund (SRF) or USDA Rural Development. Any of these options would have resulted in over $1,000,000 in debt service that was avoided by using CDBG. Based on the amount of lost water and the water rates, the community could have been losing up to $45,000 in revenue from this tank alone.
The project is currently under construction. The project is contending the with materials delays due to current market conditions.
This project is somewhat unique because both the Town of Woodbury and Cannon County each submitted an application for the maximum $525,000 to jointly fund this project. This is a great example of a town and a county working together to benefit their residents.
Other public funds $1,369,000 (Woodbury Water Fund)