WIFIA Loan Program Calls for LOIs from Prospective Water Infrastructure Borrowers
In December 2016 Congress passed the Water Infrastructure Improvements for the Nation Act, which funds the Water Infrastructure Finance and Innovation Act (WIFIA) program to be administered by the U.S. Environmental Protection Agency (EPA). WIFIA is designed to help accelerate investments and bring the public and private sectors together to deliver critical water projects across the country. The WIFIA program, which can cover up to 49 percent of projects’ eligible costs, provides a critical, long-term, low-cost, customized capital solution to help catalyze investment in the sector. The WIFIA program presents an important and timely opportunity for local, state, and federal entities eager to build, rehabilitate, or expand their water and wastewater infrastructure.
In response to its 2017 Notice of Funding Availability (NOFA), the WIFIA program received 43 letters of interest (LOI) from prospective borrowers. Twelve projects in nine states were invited to apply for more than $2 billion of WIFIA loans.
On April 4, 2018, the EPA Administrator signed the second NOFA, which allocates approximately $5.5 billion in WIFIA support to water infrastructure projects. This support translates into approximately $11 billion in water infrastructure investment. Prospective borrowers seeking WIFIA credit assistance are invited to submit LOIs by July 31, 2018.
Tetra Tech provides full lifecycle support for energy and infrastructure projects and is well positioned to assist applicants through the entire WIFIA funding process: technical, financial, and environmental assessment; project selection; letter of interest preparation; financing plan and strategy; application preparation; and negotiations and financial close.
Learn more about the WIFIA Program and how Tetra Tech can support clients seeking to access WIFIA funding.