This investment will help address aging infrastructure and expand services in communities experiencing growing needs and expected to benefit 134,000 Indiana residents.
At a Friday event at the Indiana Statehouse, the head of the U.S. Environmental Protection Agency’s (EPA) Water Office Bruno Pigott joined Indiana Finance Authority’s Jim McGoff to announce a $196 million loan to improve drinking water and wastewater systems statewide.
This funding will help address the demands of a growing population.
The State of Indiana intends to use this loan to finance drinking water and wastewater infrastructure improvement projects to better serve Indiana communities. This investment will help address aging infrastructure and expand services in communities experiencing growing needs. Projects that will receive funding are located throughout the state and are expected to benefit 134,000 Indiana residents.
EPA’s State Infrastructure Financing Authority Water Infrastructure Finance and Innovation Act (SWIFIA) program provides loans exclusively to state financing authorities, also known as state revolving fund programs. This SWIFIA loan offers additional low-cost financing to Indiana’s Clean Water and Drinking Water State Revolving Funds, that will help implement critical water infrastructure projects in the state.
“I want to congratulate the State of Indiana for securing a $196 million loan from EPA. Through our partnership, we will upgrade water infrastructure across the state to keep residents healthy, protect water resources, and create good-paying jobs while keeping water bills affordable,” said EPA Principal Deputy Assistant Administrator for Water, Bruno Pigott. “The State of Indiana is ahead of the curve in securing EPA financing to advance water infrastructure goals and benefit 134,000 people across the state.”
“The IFA is continually searching for alternative funding sources to keep pace with Indiana’s increasing water-infrastructure needs,” said Jim McGoff, Indiana Finance Authority chief operating officer and director of environmental programs. “EPA’s SWIFIA program provides that additional source of funding, which will help communities across Indiana invest more than $400 million in their local water systems.”
This loan will be Indiana Finance Authority’s first SWIFIA loan and third loan through the EPA’s Water Infrastructure Finance and Innovation Act (WIFIA) program, totaling more than $630 million in WIFIA financing to advance water infrastructure projects in Indiana. The SWIFIA loan will offer the authority further flexibilities by allowing deferment of principal payments for 20 years and substantial savings for Indiana residents. Savings from Indiana’s first WIFIA loan totaled more than $130 million.
Since its creation, EPA’s Water Infrastructure Finance and Innovation Act program has announced $21 billion in financing to support $45 billion in water infrastructure projects that are strengthening drinking water, wastewater, and stormwater infrastructure while creating over 150,000 jobs.
Pair of traffic stops net arrests
Eagles look to soar to sectional crown
Riverton Parke looks to get over sectional hump
FAA calls for airline traffic reduction to begin Friday
Central Indiana Land Trust names nature preserve to honor Efroymson family
Select Wings Etc. locations offering free entrée on Veterans Day
Tips for Carbon Monoxide Awareness Month
FSSA statement on SNAP benefits, one week delay
Gov. Braun orders flags to half-staff in honor of former Vice President Dick Cheney
Free admission to DNR properties for veterans, active-duty military, Nov. 11
Indiana Grown Holiday Box highlights local businesses for the third year
Christmas Nights of Lights returns to the Indiana State Fairgrounds
Indiana State Police wants everyone to stay safe this Halloween
Nominations being accepted for Indiana Certified Crop Adviser (CCA) of the Year
BMV warns customers of new scam text messages
National FFA Convention & Expo to call Indy home through 2040
Tortoises taken from Indianapolis Zoo found safe in Madison County park
INDOT has plans to expand electric vehicle charging
PH FFA competed in area and state Livestock Skillathon
Wednesday is Buckle Up Phone Down Day in Indiana
