On Jan. 10, 2017, the EPA issued in the Federal Registry a Notice of Funding Availability (NOFA) for the new Water Infrastructure Finance Innovation Act (WIFIA) program. Organizations interested in applying for low-interest loans and loan guarantees have until April 10, 2017, to submit a Letter of Interest (LOI) to the EPA.
Visit the EPA’s WIFIA website: www.epa.gov/wifia
The new WIFIA program received a $20 million appropriation in the recently completed Continuing Resolution passed by Congress. The EPA estimates that current budget authority may provide more than $1 billion in credit assistance to borrowers, which has the potential to finance over $2 billion in new water infrastructure investments. Minimum projects size is $20 million or more, or for communities under 25,000 people, $5 million or more. WEF and other water associations worked hard to create the new program and obtain funding for it, and encourage interested applicants to closely review the NOFA on how to apply.
The borrower selection process is a two-step process. The first step is for potential borrowers to submit a LOI, which includes explanation about the project to be financed and limited financial information about the borrower, as explained in greater detail in the NOFA. The second step will be for the EPA, based upon the LOIs, to notify selected applicants to submit a full application, which will include more extensive details about the project, financial information and fees associated with the application and review process.
The NOFA details the project requirements criteria, which includes the kinds of entities that are eligible to apply, the kinds of projects that are eligible to receive financing, threshold requirements for projects, and federal regulatory requirements. The NOFA also details the necessary information to be included in the LOI, and the EPA’s selection criteria and process.
For more information, please contact Claudio H. Ternieden, WEF’s Senior Director, Government Affairs and Strategic Partnerships at email@example.com or at (703) 684-2416.