The U.S. Environmental Protection Agency’s (USEPA) Water Infrastructure Finance and Innovation Act (WIFIA) program received an additional $8 million for credit subsidy in the Consolidated Appropriations Act of 2017. President Donald Trump signed the bill into law on May 5, 2017.
The additional funding, combined with the $17 million appropriated for credit subsidy at the end of 2016, will allow the WIFIA program to lend approximately $1.5 billion for water and wastewater infrastructure projects. It is important to note that WIFIA funding can comprise 49 percent of the funding package, with the remaining 51 percent provided by other sources.
“Thanks to President Trump and Congress, this additional funding will accelerate the construction of projects to meet communities’ water infrastructure needs. This investment will empower states, municipalities, companies, and public-private partnerships to solve real environmental problems in our communities, like the need for clean and safe water,” says Scott Pruitt, USEPA Administrator.
So far, USEPA has received 43 Letters of Interest (LOI) for WIFIA loans from public and private entities with a collective request of $6 billion. These LOI demonstrate the extent of need to invest in water infrastructure improvements in communities across the nation and the value that WIFIA financing can offer.
The second letter of interest submittal period is expected to begin on August 1, 2017, and end at midnight in the time zone of the prospective borrower on September 29, 2017. Prospective borrowers are asked to submit letters of interest electronically via email at: [email protected]. USEPA says prospective borrowers will receive a confirmation email and are advised to request a return receipt to confirm transmission. Prospective borrowers can access additional information, including the WIFIA program handbook and application materials, on the WIFIA website.