Flint Getting $25 Million In Low Interest Loans To Replace Lead Pipes
Flint Mayor, Karen Weaver, announced that her 'Fast Start' initiative was getting a $25 Million boost Sunday night.
The money is coming in the form of a low interest loan from Union Labor Life Insurance Company. The money will go directly into the 'Fast Start Initiative' that Mayor Weaver started to replace all of Flint's lead lines.
This is great news in the short term to get the lead lines in Flint replaced, but may cause some issues down the road.
With all of the money coming in from the state and federal government, not to mention an offer to replace the pipes for free, is a loan the best idea?
No matter how low the interest may be, Flint will still be on the hook to repay the $25 Million. Unless the state or federal government plans to pay off the debt, it will most likely fall on the backs of Flint residents.