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Paulding gets $29.1 million low interest loan to begin construction of Richland Creek Reservoir
The Georgia Environmental Facilities Authority (GEFA) announced today that Paulding has been awarded a long-term (40-year) loan for $29.1 million with which it can begin the construction phase for the Richland Creek Reservoir. This funding represents roughly one-third the projected $86.4 million project. The project, which was initiated by former Commission Chairman Bill Carruth in the late 1990s, involves the construction of a 305-acre pumped-storage reservoir on Richland Creek in northern Paulding County. Not fed by springs, the reservoir will require a water intake on the Etowah River which is used to fill the reservoir. Paulding County is designing the reservoir with a projected yield of 35 MGD. The county will supplement funding by providing $57,300,000 in additional money, presumably from revenue bonds. Paulding County will pay zero percent interest for the first three years of construction on the GEFA money; then 1 percent for the remainder of construction, accrued and capitalized; and 1.82 percent during the repayment period once construction is complete. The county will not be charged a closing fee. The announcement was made by GEFA and is part of a water resource effort by Gov. Nathan Deal who pledged $300 million over four years to improving the state's fresh water resources. There is no fixed start date for construction on the project. Actual physical work will commence only after all permits are in place and the additional funding is secured. |
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Paulding Reservoir one step closer to reality GEFA promises 40 year $29.1 million low interest loan
#1
Posted 01 August 2012 - 03:27 PM
#2
Posted 01 August 2012 - 04:19 PM
#3
Posted 01 August 2012 - 05:32 PM
---George Eliot
If I have earned your trust, then I am responsible for keeping that trust intact.
---JohnnyJ
#4
Posted 01 August 2012 - 07:37 PM
You're wrong. Georgia needs more water sources.
If it weren't for Bill Heath we'd have had one called the west Georgia Regional Water Authority which would have been a bigger, naturally fed lake that Paulding was slated to be a part of.
Of course Bill Heath, probably more than any other person on the face of the earth, cost Haralson county and the state that lake. Why, so he could get gifts without limit, I guess.
I note he hasn't had anything to do with this one. I don't recall him suggesting any efforts on its behalf, which is par for the course.
pubby
#5
Posted 01 August 2012 - 07:52 PM
PUBBY, on 01 August 2012 - 07:37 PM, said:
You're wrong. Georgia needs more water sources.
If it weren't for Bill Heath we'd have had one called the west Georgia Regional Water Authority which would have been a bigger, naturally fed lake that Paulding was slated to be a part of.
Of course Bill Heath, probably more than any other person on the face of the earth, cost Haralson county and the state that lake. Why, so he could get gifts without limit, I guess.
I note he hasn't had anything to do with this one. I don't recall him suggesting any efforts on its behalf, which is par for the course.
pubby
You know the lake that provides Atlanta and Fulton County their water is fed like the proposed reservoir for Paulding. Google map Spruil Road Johns Creek, GA.
#6
Posted 01 August 2012 - 07:59 PM
PUBBY, on 01 August 2012 - 07:37 PM, said:
You're wrong. Georgia needs more water sources.
If it weren't for Bill Heath we'd have had one called the west Georgia Regional Water Authority which would have been a bigger, naturally fed lake that Paulding was slated to be a part of.
Of course Bill Heath, probably more than any other person on the face of the earth, cost Haralson county and the state that lake. Why, so he could get gifts without limit, I guess.
I note he hasn't had anything to do with this one. I don't recall him suggesting any efforts on its behalf, which is par for the course.
pubby
You mis-understood my comment. I agree we need more water sources. And yes, we should have had the West Ga Regional Water Authority up and operating.
But this one at Richland Creek will be a loooong time in coming to completion.
---George Eliot
If I have earned your trust, then I am responsible for keeping that trust intact.
---JohnnyJ
#7
Posted 01 August 2012 - 08:05 PM
Johnny Jacobs, on 01 August 2012 - 07:59 PM, said:
But this one at Richland Creek will be a loooong time in coming to completion.
Which would be more beneficial to Paulding County, the Richland Creek reservoir, or the old proposed toll road that would have crossed close to if not right through the same area?
#8
Posted 01 August 2012 - 08:20 PM
dapandlap, on 01 August 2012 - 08:05 PM, said:
I played with dozens of scenarios and cost associated with them. Almost ever person living west of 61 had a line drawn through their house or property, yet there would only ever be one road and that would be if it was feasible.
If it were privatized as a toll road, the company would have chosen the least expensive of the routes. Ultimately the price was too high and nobody was interested.
I think it will eventually go back to the original idea of widening 61 with a western bypass around downtown Dallas. Honestly I don't think anyone should hold their breath on this. We are dead last when it comes to getting our fuel tax money.
#9
Posted 01 August 2012 - 08:39 PM
dapandlap, on 01 August 2012 - 08:05 PM, said:
Well the two aren't necessarily mutually exclusive. You could build a toll road and a bridge to cross the reservoir.
#10
Posted 01 August 2012 - 08:59 PM
#11
Posted 01 August 2012 - 09:22 PM
http://coosa.wordpre...-full-of-holes/
Glassdogs, on 01 August 2012 - 08:59 PM, said:
links with maps.
http://www.paulding....ex.aspx?nid=919
#12
Posted 02 August 2012 - 06:34 AM
Just found this.
[url="http://coosa.wordpress.com/2012/01/30/paulding-county-dam-plan-full-of-holes/"]
I truly hope this project doesn't eradicate the population of darters that the article mentions..
#13
Posted 02 August 2012 - 06:37 AM
-Sir Winston Churchill
#14
Posted 02 August 2012 - 06:49 AM
#15
Posted 02 August 2012 - 08:25 AM
winston1972, on 02 August 2012 - 06:34 AM, said:
[url="http://coosa.wordpress.com/2012/01/30/paulding-county-dam-plan-full-of-holes/"]
I truly hope this project doesn't eradicate the population of darters that the article mentions..
OH, YES! This is the reason a dam and lake could not be put on Pumpkinvine Creek where there IS running water.
---George Eliot
If I have earned your trust, then I am responsible for keeping that trust intact.
---JohnnyJ




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