Biden-Harris Administration Announces $17 Million WIFIA Loan to Sharyland Water Supply Corporation
DALLAS, TEXAS (December 18, 2023) – Today, the U.S. Environmental Protection Agency (EPA) announced a $17 million Water Infrastructure Finance and Innovation Act (WIFIA) loan to the Sharyland Water Supply Corporation in southeastern Texas. EPA’s loan will support critical water infrastructure updates to ensure reliable delivery of safe drinking water to local residents.
Since its creation, EPA’s WIFIA program has announced nearly $20 billion in financing to support over $43 billion in water infrastructure projects that are strengthening drinking water, wastewater, and stormwater infrastructure while creating over 140,000 jobs.
“With smart investments through EPA’s WIFIA loan program, Sharyland Water Supply Corporation is upgrading water infrastructure to ensure safe and reliable water service for nearly 90,000 people in southeastern Texas,” said EPA Assistant Administrator for Water Radhika Fox. “Water infrastructure is central to President Biden’s Investing in America Agenda. Through EPA’s WIFIA program and $50 billion under the Bipartisan Infrastructure Law, the Agency is investing in drinking water, wastewater, and stormwater upgrades to benefit communities across the country.”
The Sharyland Water Supply Corporation’s Water System Infrastructure Improvements Project will improve the reliability of their existing system. Improving the drinking water treatment plant will help minimize unnecessary water loss. Additionally, the project will upgrade several miles of water mains during ongoing road-widening work. By coordinating this work, the community will benefit from multi-sector infrastructure upgrades while limiting disruptions to residents.
"This funding is a significant step forward in our commitment to providing top-notch water services to our community,” said Sharyland Water Supply Corporation General Manager Carlos R. Lima. “This funding will not only strengthen our infrastructure but also allows us to minimize the financial impact on our valued members. Together we are ensuring a sustainable and resilient water supply for generations to come. "
WIFIA financing will allow the corporation to keep water rates affordable for its customers, including many living in communities with environmental justice concerns, while implementing necessary water infrastructure improvements. EPA estimates Sharyland Water Supply Corporation will save $5 million with EPA’s WIFIA loan while project construction and operation will create almost 200 jobs.
Learn more about EPA’s WIFIA Program and water infrastructure investments under the Bipartisan Infrastructure Law.
Background
Established by the Water Infrastructure Finance and Innovation Act of 2014, the WIFIA program is a federal loan program administered by EPA. The WIFIA program aims to accelerate investment in the nation’s water infrastructure by providing long-term, low-cost supplemental credit assistance for regionally and nationally significant projects. The WIFIA program has an active pipeline of pending applications for projects that will result in billions of dollars in water infrastructure investment and thousands of jobs.
EPA recently made the 7th round of WIFIA financing available and is currently accepting letters of interest for WIFIA and SWIFIA loans. $6.5 billion is available through WIFIA, and $1 billion is available through SWIFIA, which is a loan program exclusively for State infrastructure financing authority borrowers. EPA is currently accepting letters of interest for WIFIA and SWIFIA loans. Learn more about submitting a letter of interest for a WIFIA loan.
In addition to WIFIA loans, there are many federal funding resources available for communities and utilities to improve vital water and wastewater resources. President Biden’s Bipartisan Infrastructure Law is a once-in-a-generation investment in our nation’s infrastructure and competitiveness. The Bipartisan Infrastructure Law provides a historic $50 billion investment in upgrading critical water, wastewater, and stormwater infrastructure.
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