The United States Environmental Protection Agency (“EPA”) announced the availability of funding through the Water Infrastructure Finance and Innovation Act.
EPA states that funding could be available to provide as much as $5.5 billion in loans which could leverage over $11 billion in water infrastructure projects through the Water Infrastructure Finance and Innovation Act.
Prospective borrowers seeking credit assistance through such program should recognize that a deadline is applicable. EPA states that prospective borrowers must submit a letter of intent by July 6, 2018.
The Water Infrastructure Financing and Innovation Act of 2014 is a federal loan and guarantee program that provides long-term, low-cost supplemental loans for water infrastructure. Such credit assistance can be used for projects such as:
Drinking water treatment and distribution
Wastewater conveyance and treatment
Enhanced energy efficiency at drinking water and wastewater facilities
Desalination, water recharge, alternative water supply, and water recycling
Drought prevention, reduction, or mitigation
A copy of EPA’s Notice of Funding Availability, which was issued on April 4th, can be downloaded here.