HEYBURN, Idaho (KLIX) – A Magic Valley business has been awarded a construction loan from the Idaho Department of Environmental Quality.

Wayside Estates Association Inc. in Minidoka County was awarded a $648,150 low-interest drinking water construction loan to add a new well, well house, water system distribution mains and meters.

DEQ, which offers the loan from its State Revolving Loan Fund and is capitalized annually by grants from the Environmental Protection Agency, says it is authorized by the state to make loans to assist in the construction of public drinking water systems.

The loan carries a simple 1.75 percent interest rate, is payable over 30 years, and has $513,817 of principal forgiveness, according to the department.