Loans will help make critical investments in communities to improve water quality for 22 million Americans
(New York, N.Y. – November 1, 2018) The U.S. Environmental Protection Agency (EPA) is inviting New York State’s Monroe County and the City of Cortland to apply for Water Infrastructure Finance and Innovation Act (WIFIA) loans. Together the selected borrowers will receive WIFIA loans totaling $24 million to help finance over $50 million in water infrastructure investments. The selected projects will fund critical repairs and improve resiliency in New York’s wastewater treatment and drinking water distribution systems.
“Through WIFIA, EPA is playing an integral role in President Trump’s efforts to improve and upgrade our nation’s water infrastructure and ensure all Americans have access to clean and safe water,” said EPA Acting Administrator Andrew Wheeler. “This year, EPA will help finance over $10 billion in water infrastructure investments that will create up to 155,000 jobs, upgrade aging infrastructure, reduce lead exposure, and improve the lives of millions of Americans across the country.”
Monroe County, NY is eligible to apply for a $15 million loan to fund $31 million in water infrastructure investments. The Frank E. Van Lare Secondary Treatment Upgrades project will improve wastewater treatment performance by upgrading plant infrastructure to simplify a rapid response in an emergency, improving the aeration system, and improving the secondary clarifiers.
The City of Cortland, NY is eligible to apply for a $9 million loan to fund $19 million in water infrastructure investments. The Clinton Avenue Gateway project will replace aged water, sanitary sewer, and storm drainage, including water main, services, hydrants and valves.
After a robust, statutorily required review process, [placeholder name] was selected as one of 39 projects nationwide, from a group of 62 prospective borrowers, representing large and small communities, who submitted letters of interest to EPA in response to the 2018 WIFIA Notice of Funding Availability (NOFA). Together, the selected borrowers will receive WIFIA loans totaling up to $5 billion to help finance over $10 billion in water infrastructure investments and create up to 155,000 jobs.
Established by the Water Infrastructure Finance and Innovation Act of 2014, the WIFIA program is a federal loan and guarantee program at EPA that aims to accelerate investment in the nation’s water infrastructure by providing long-term, low-cost supplemental credit assistance for regionally and nationally significant projects. EPA’s WIFIA loans will allow large and small communities across the country to implement projects to address two national water priorities – providing for clean and safe drinking water including reducing exposure to lead and other contaminants and addressing aging water infrastructure.
To date, EPA has issued four loans totaling over $1 billion in WIFIA credit assistance. Combined, these four projects will create over 5,000 jobs.
According to EPA's estimate of national drinking water and wastewater needs, over $743 billion is needed for water infrastructure improvements. EPA’s WIFIA program plays an important part in fulfilling this need and in the President’s Infrastructure Plan, which calls for expanding project eligibility.
To learn more about the 39 projects that are invited to apply and about EPA’s WIFIA program, visit https://www.epa.gov/wifia/wifia-selected-projects.
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