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$1.48M Loan for Dredging Project OK’d

Posted on March 3, 2016

The Board of Commissioners of Public Lands Tuesday approved a State Trust Fund Loan totaling $1.48 million to the Lake Altoona Protection and Rehabilitation District to finance a dredging project.

Contractor Haas Sons of Thorp began dredging the east side of Lake Altoona in mid-February.

Since 1871, the BCPL has made loans to municipalities and school districts for public purpose projects, including economic development, local infrastructre, capital equipment and vehicles and building repairs and improvements, along with refinancing existing liabilities to reduce future borrowing costs.

The BCPL Tuesday approved loans totaling nearly $6.5 million, including $5 million to St. Croix County to finance capital projects.

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