Washougal gets $1M loan for wastewater facility

The city of Washougal has been awarded a $1 million loan from the Washington state government’s public works assistance account for its wastewater treatment plant improvement project.

“I don’t know the exact interest rate dynamics, but it’s a preferred interest rate over market rate. If we went out for a revenue bond for this $1 million, we’d pay whatever the market rate is for a city with our bond rating, but the loan will be a lower rate,” Washougal City Manager David Scott told city councilors during an Aug. 9 workshop. “This helps us in terms of doing everything we can to mitigate costs moving forward, which translates into rates. We’re doing everything we can to mitigate (costs) in that area.”