Funding Availability for Water and Wastewater Construction
January 17, 2017 by John Giachino, DBIA, Director of Client Services
The EPA has good news for you!
The Water Resources Reform and Development Act (WRRDA) was signed into law by the president on June 10, 2014. Title V, Water Infrastructure Finance and Innovation Act (WIFIA), establishes a financing mechanism for water and wastewater infrastructure projects to be managed by the Environmental Protection Agency (EPA). WIFIA provides low interest federal loans for up to 49% of the costs associated with large drinking water, wastewater, stormwater and water reuse projects.
On January 10, 2017, the EPA issued in the Federal Registry a Notice of Funding Availability for the new WIFIA program. Organizations interested in applying for low-interest loans and loan guarantees have until April 10, 2017, to submit a letter of interest to the EPA. The current budget authority may provide more than $1 billion in credit assistance to borrowers and has the potential to finance over $2 billion in new water infrastructure investments. The minimum project size is $20 million or $5 million for communities under 25,000 people.
Additional resources are available on the EPA’s WIFIA website: https://www.epa.gov/wifia