The U.S. Environmental Protection Agency (EPA) has approximately $5.5 billion in credit available to fund over $11 billion in water infrastructure projects through the Water Infrastructure Finance and Innovation Act (WIFIA) program in Fiscal Year 2021. Under WIFIA, the EPA can provide credit assistance in the form of secured (direct) loans or loan guarantees to eligible applicants regionally or nationwide. For all relevant information on the EPA’s implementation of the WIFIA program, check out the WIFIA section on the EPA website and you can also view the EPA’s News Release.
Congress enacted WIFIA as part of the Water Resources Reform and Development Act of 2014 (WRRDA). Codified at 33 U.S.C. 3901-3914, WIFIA authorizes a federal credit program for water infrastructure projects to be administered by the EPA via the provision of federal credit assistance. The program’s core goal is the acceleration of investment in our nation’s water and wastewater infrastructure through provision of long-term, low-cost, supplemental credit assistance.
A variety of entities are eligible for assistance under this program, including federal, state, or local governmental entities, agencies, or instrumentalities and a variety of projects are eligible for consideration, but all must comply with federal requirements and regulations. To see the specific eligibility criteria and additional details, click here to review the Notification of Funding.
Prospective borrowers seeking a WIFIA loan must submit an LOI that describes the project basics and addresses the WIFIA selection criteria. When preparing an LOI, applicants should complete the WIFIA LOI form and closely follow the guidelines related to program participation. All specific application materials can be found here.
EPA hosted a series of webinars to provide further information about submitting an LOI. The webinar recordings can be accessed here.
Various additional resources are available to assist prospective applicants with the Letter of Interest, as follows:
- Letter of Interest form
- Letter of Interest Example and Checklist
- Sample Financial Pro Forma
- Updated WIFIA Program Handbook
- Template Term Sheet
To learn more about the WIFIA Program benefits, you can check out these additional resources:
If you’re interested in applying, please submit a letter of interest by July 23, 2021. Interested in speaking to the WIFIA staff about project financing? Feel free to email email@example.com to schedule a meeting. For any and all details related to the program and participating, visit the WIFIA section of the EPA website.