The U.S. Environmental Protection Agency held a Water Infrastructure Financing and Innovation Act information session on January 17 anticipating FY 2018 project financing funds availability.
Congress previously appropriated $25 million in credit subsidy in FY 2017 for which 12 out of 43 projects were selected for WIFIA financing. Details of the projects can be found here.
In response to questions from NGWA Manager of Regulatory Affairs Chuck Job, the EPA WIFIA team indicated that it encourages small water systems (serving 25,000 people or less) to apply, will spend additional time with small water systems that apply, and, in the project selection process, will work to balance credit worthiness with an economically stressed condition of a community. WIFIA emphasis is primarily larger projects.
A community’s consideration for WIFIA financial assistance begins with the community’s letter of interest that must follow a template on EPA’s website. Credit subsidy for small community financing must be committed in the year appropriated or is recycled to be applied to larger projects.
Among the 12 projects was the small water system of Morro Bay, California (population 10,224), receiving an $82 million loan for a wastewater recycling project to recharge its aquifer.