As the cost of building a gigantic new Bull Run water filtration facility has skyrocketed to $2.1 billion, the city of Portland has obtained a $319 million federal loan to help finance the project.
The project, which is now expected to cost four times as much as the $500 million that Portland’s elected officials approved seven years ago, is being financed in part by the Environmental Protection Agency’s second long-term, low-cost loan.
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