The U.S. Environmental Protection Agency (USEPA) announced that the deadline to submit letters of interest for Water Infrastructure Finance and Innovation Act (WIFIA) loans has been extended to July 31, 2018.
“By extending the deadline to apply for a WIFIA loan, even more entities will be able to bring critical water infrastructure improvements to their communities, including projects that keep lead and other contaminants out of drinking water,” said USEPA Administrator Scott Pruitt. “These projects create jobs, protect public health, and help ensure that all Americans continue to have access to clean and safe water.”
The WIFIA program is a federal loan and guarantee program that aims to accelerate investment in the nation’s water infrastructure by providing long-term, low-cost supplemental loans for regionally and nationally significant projects. WIFIA can provide up to 49 percent of the financing for a project, and a State Revolving Fund (SRF) loan could provide additional financing for the remaining eligible project costs. The WIFIA program received $63 million in funding in the Consolidated Appropriations Act, 2018, which was signed into law by President Donald Trump in March.
According to USEPA’s estimate of drinking water and wastewater needs, over $743 billion is needed over the next 20 years for water infrastructure improvements. USEPA says WIFIA financing and the SRF loan programs will play an important part in fulfilling this need.
Click here to access additional USEPA information about the WIFIA program and application resources.
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