The city of Quincy is one step closer to one of it's biggest infrastructure upgrades in years.
The city utility commission accepted a 10 year, $10 million loan from Mercantile Bank which would pay for 12 water and sewer projects.
City officials said they decided to go with a local lender because the terms of the loan were just too good to pass up.
"The interest rate is lower that the two percent that was being offered by the state, there's no transaction fees for this which would have been more expenses for the city for the legal work that's required to get more money from the state," utilities and engineering director Jeffrey Conte said.
Conte said Mercantile also won't penalize the city if they have extra money and want to pay back the loan early.
Those projects include replacing the water and sewer system along Front Street from Broadway to Jefferson, as well as projects on Spruce, Elm and Hampshire Street.
Officials said construction will start in the summer.