EPA in October launched a series of six information sessions to educate stakeholders and the public about the new Water Infrastructure Finance and Innovation Act (WIFIA) loan program. The final four in-person sessions will take place in locations across the country through mid-November, ahead of a webinar on the same topic tentatively planned for early December. Water utility managers and other interested WIFIA stakeholders are invited to attend one of the sessions.
EPA is currently finalizing WIFIA’s operational guidelines and intends to begin offering low-interest loans through the program during the 2017 fiscal year. In preparation for this inaugural offering, the information sessions provide details on WIFIA’s current status and anticipated schedule, eligibility and statutory requirements, application and selection process, creditworthiness assessment and examples of potential cost-savings utilities could realize.
During the first information session, held October 14 in Chicago, EPA staff explained that the agency plans to hold at least two “open window” periods per year during which the agency will collect WIFIA applications. Staff also said EPA expects a leveraging ratio of approximately 65 to 1, meaning that each WIFIA dollar appropriated by Congress could support $65 worth of loans to communities. EPA is hoping to release a final WIFIA implementation rule with additional details in the coming weeks.
Upcoming information sessions are scheduled for New York (November 7), San Francisco (November 14), Los Angeles (November 15) and Dallas (November 18). No date has yet been set for the planned webinar in December.
Water sector stakeholders interested in attending an in-person information session are asked to pre-register online.