(STATEHOUSE) April 16, 2009 - Reps. Cindy Noe (R-Indianapolis) and Jerry Torr (R-Carmel) today announced that Carmel qualifies to receive an estimated $1,563,000 grant from federal stimulus funding through the Indiana Finance Authority to complete improvements to Carmel's wastewater systems.
This is one of the first stimulus water projects to be announced. While neither Rep. Noe nor Rep. Torr fully approve of the federal stimulus, both agree this project meets parameters laid out when Indiana accepted federal stimulus money - it's a one-time project that targets the money where it is most needed, and it does so quickly.
"Indiana accepted federal stimulus money with great hesitation and only with the stipulation that we would use this money toward one-time projects," said Rep. Noe. "I believe this project fulfills that requirement."
"While I don't support federal stimulus spending, if we are going to use this money, we need to spend it on projects such as this one for Carmel that will not damage our financial future," added Rep. Torr.
The American Recovery and Reinvestment Act of 2009 will distribute approximately $125 million in funds to the Indiana State Revolving Fund, an existing program managed by the Indiana Finance Authority which makes loans to communities for wastewater and drinking water projects.
For more information about the SRF loan program, visit the IFA Web site at www.in.gov/ifa/srf.