U.S. EPA WIFIA Grant Winners will Finance $5.1 Billion in Water Infrastructure Investment
WIFIA program finance assistance will accelerate investment in water infrastructure by providing long-term, low-cost supplemental loans for 12 regionally and nationally significant projects.
The WIFIA program is inviting 12 entities with projects in nine states to apply for more than $2 billion in Water Infrastructure Finance and Innovation Act (WIFIA) loans. These potential applicants were selected from a group of projects that represent large and small communities from across the United States that submitted letters of interest to EPA in April 2017. This year’s projects will also leverage more than $1 billion in private capital, in addition to other funding sources including EPA’s State Revolving Fund (SRF) loans, to help finance a total of $5.1 billion in water infrastructure investments. The selected projects demonstrate the broad range of project types that the WIFIA program can finance including wastewater, drinking water, stormwater, and water recycling projects.
After an invitee applies for WIFIA credit assistance, the WIFIA program conducts a detailed financial and engineering review in order to develop the terms and conditions for the project. Once a mutually agreeable term sheet is developed, the Administrator approves the loan and executes the term sheet. Based on the term sheet, the WIFIA program finalizes the terms of credit assistance. At closing, the Administrator and the borrower execute the credit agreement, which is the binding legal document that allows the borrower to receive WIFIA funds.
See EPA's News Release to learn more.
A table of winning projects, borrowers and requested borrowings is below:
|Project Name||Borrower||Requested Loan Amount|
|Ocean Outfall Discharge Reduction and Resiliency Enhancement Project||Miami-Dade County (Florida)||$79 million|
|Deer Creek Sanitary Tunnel and Sanitary Relief||Metropolitan St. Louis Sewer District (Missouri)||$43 million|
|Saddle Creek Combined Sewer Overflow Retention Treatment Basin||City of Omaha (Nebraska)||$55 million|
|Groundwater Replenishment System Final Expansion||Orange County Water District (California)||$124 million|
|Pure Water San Diego||City of San Diego (California)||$492 million|
|Indiana Finance Authority FY 2017||Indiana Finance Authority (Indiana)||$436 million|
|Georgetown Wet Weather Treatment Station||King County (Washington)||$129 million|
|Comprehensive Infrastructure Repair, Rehabilitation and Replacement Program||Baltimore City Department of Public Works (Maryland)||$200 million|
|Saco River Water Treatment Facility||Maine Water Company (Maine) (Private)||$25 million|
|Water Treatment Plant Design and Construction||City of Oak Ridge (Tennessee)||$22 million|
|Water Reclamation Facility Project||City of Morro Bay (California) (Small Community)||$82 million|
|Southeast Water Pollution Control Plant Biosolids Digester Facilities Project||San Francisco Public Utilities Commission (California)||$625 million|
Letters of Interest
In response to its Notice of Funding Availability (NOFA), the WIFIA program received 43 letters of interest from prospective borrowers for water infrastructure projects across the country. In total, prospective borrowers requested $6 billion in WIFIA loans. These letters demonstrate the high need to invest in water infrastructure improvements in communities across the nation and the value that WIFIA financing can offer.
Since WIFIA funding is limited to up to 49 percent of project costs, the letters of interest indicate how the EPA’s investment would be combined with other sources, such as State Revolving Fund (SRF) loans, private equity, and municipal bonds, to implement projects costing over $12 billion. Entities are seeking financing for a wide array of water and wastewater projects, including repair, rehabilitation, and replacement of aging treatment plants and pipe systems and construction of new infrastructure for desalination, water recycling, and drought mitigation.
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