2017 A nnual Report
Clean Water State Revolving Fund Programs

Dear Colleagues,
This past year we reached a major milestone in the Clean Water State Revolving Fund (CWSRF) Program
- in passing the 30 year mark of operation. I cannot imagine that anyone at the beginning of this unique
experiment in cooperative federalism would have envisioned the extraordinary accomplishments that the
States have achieved. In terms of the most important programmatic measure, assistance provided, the 51
programs have provided assistance totaling over $126 billion in 38,441 assistance agreements.
The longstanding goals of the program are to achieve the greatest environmental and public health benefits
possible through financing projects across a very wide range of eligibilities and to ensure that the funds are
used efficiently in perpetuity. In the pursuit of these goals, the CWSRF programs have provided recipients
significant subsidies in their assistance. In this regard, I would underscore that over the past 30 years the
CWSRF programs have enabled thousands of communities to build needed water quality infrastructure that
otherwise would not have been built due to the lack of financial capacity.
% ~

I am pleased to provide the 2017 CWSRF Program's Annual Report that
documents the history and growth of this important financial program. In
addition to summarizing key financing and environmental performance
information, our focus this year is on celebrating our 30th Anniversary. We have
included materials displayed at this year's SRF Training Workshop in Indianapolis,
IN, and highlighted those CWSRF projects that are recipients of PISCES
recognition certificates. Hats off to the regions and states!
Andrew Sawyers, Ph.D., Director
Office of Wastewater Management
Office of Water
United States Environmental Protection Agency

30 Years of CWSRF Success	2
Clean Water State Revolving Fund Timeline	6
2017 Performance Highlights	8
2017 Financial Overview	10
CWSRF Highlighted Projects	16
State Agencies that Manage CWSRF Programs	20
2017 Annual Report | Page 1

marks 30 years of Clean Water State Revolving Fund success! Over the course of those 30 years,
the 51 programs (50 states and Puerto Rico) have provided over $126 billion in assistance
through 38,441 assistance agreements. Many of the wastewater infrastructure assets that have been financed
are largely out of the public eye, and maintaining them is of critical importance to the nation. But where did
the revolving funds originate, and how did they come to exist as they do today?
Construction Grants Program
for Municipal Wastewater
Treatment Works
Handbook of Procedures
The Water Pollution Control Act Amendments of 1956 created the Construction Grants
Program. Through the subsequent decades, this grant program provided approximately
$60 billion in funding for the construction of municipal wastewater treatment plants.
Though successful, Congress recognized that the time had come to shift away from a
direct grants program. On February 4,1987, the 100th Congress of the United States of
America passed H.R. 1, the Water Quality Act of 1987. This bill, codified as Public Law 100-4, phased out the
Title II Construction Grants and added Title VI, which authorized the State Water Pollution Control Revolving
Title VI created a truly innovative program that fundamentally changed the landscape of wastewater
infrastructure financing by shifting funding from a federal program to state managed programs, and by
shifting funding away from grants to loans and other forms of assistance. It also created a strong federal and
state partnership, since every dollar contributed by the federal government must be matched at 20 percent
by the state. In the spirit of cooperative federalism, each state makes funding decisions based on its unique
environmental and economic priorities. This inherent flexibility allows states to
provide low-cost financing for critical water infrastructure projects and to direct
resources where they are needed most.
The Environmental Protection Agency (EPA) released initial guidance for the
State Revolving Fund (SRF) Programs on January 28, 1988. This guidance
explained the authorization, allotments available to the state programs, eligible
2017 Annual Report | Page 2

Figure 1: CWSRF Annual Assistance
Cumulative Assistance Totals Over $126 Billion
CD $6

Figure 2: Assistance Provided and Federal Capitalization Grants
o $60
For each $1 of federal
capitalization, $3 of assistance
has been provided to
communities through the
O O O O O O O O O O t—I*—I*—IrHrHr—I
Cumulative Federal Capitalization Grants
Leveraged Assistance Provided
EPA's capitalization grants to the states provide the seed funding for the State Revolving Funds. On March
30,1988, EPA awarded the first CWSRF capitalization grants to Tennessee and Texas and subsequently made
awards to the other 48 states and Puerto Rico. In the last 30 years, $42 billion in federal capitalization grants
awarded to the CWSRF programs has enabled the states to fund over $126 billion in assistance. This equates
to approximately three dollars of project assistance for each dollar of federal capitalization.
The sound management of the state programs has ensured that the CWSRF remains at the forefront of
funding innovative solutions for treating wastewater, addressing stormwater runoff, tackling non-point source
pollution, and addressing a multitude of other environmental issues facing this nation.
2017 Annual Report || Page 4

Our Waters,
Renewing Our
Creating Jobs
Figure 3: CWSRF Needs Categories
Cumulative Funding (Billions)
Treatment, $24.6
New Collector
Sewers and New
Interceptors, $18.3
CSO Correction, $13.3
The Clean Water State Revolving
Fund Program has enabled each
state to address its areas of need
as they see fit. The passage of
WRRDA in 2014 expanded CWSRF
eligibilities, which allowed the
states to fund additional types of
projects. Over the last 30 years,
96 percent of funding has gone to
publicly owned treatment works
(POTWs) in the form of upgrades
to secondary and advanced
treatment and other categories.
Approximately 4 percent of
assistance provided, or $4.6 billion,
has gone to nonpoint source and
other projects, such as agricultural
best management practices,
silviculture, estuary assistance, and
land conservation.
The CWSRF programs have provided needed assistance to smaller communities. Since 1988, $14.1 billion has
been provided through over 20,500 assistance agreements for projects to communities with populations fewer
than 3,500 people. Additionally, $13.9 billion has been provided through over 5000 assistance agreements
for projects to communities with populations
between 3,500 and 9,999 people.
Figure 4: Cumulative Assistance by
Population Size (Billions)
Treatment, $44.5
Infiltration/Inflow Nonpoint
and Sewer System Source and
Rehabilitation, $17.9 Other, $4.6
Storm water,
Water Reuse /
Efficiency, $1.7
Total funding equals $126.1 billion. Due to individual rounding, the sum of all parts may not equal this total.

10,000 to 99,999


100,000 and

Less than 3,500
3,500 to 9,999
A Stronger Nation
Through Cleaner
A Stronger Economy
Through Sustainable
Total funding equals $126.1 billion.
Due to individual rounding, the sum of all parts may not equal this total.
2017 Annual Report | Page 5

Clean Water State Revolving
* Clean Water Lwow,Cos,,F,'7fn?fo;
Ik	,	Wastewater Infrastructure
j State Revolving Fund 5/nce 7937
2017 CWSRF 30th anniversary!
r\r\-\s- CWSRF programs provide over $7.6 billion in financial assistance
Zi\j 1 U through 1,362 agreements
2014 WRRDA is signed into law on June 10, 2014, amending the CWSRF for
the first time in the program's history
2009 ARRA legislation is signed into law February 17, 2009 appropriating
$4 billion to the CWSRF and introducing the Green Project Reserve,
Additional Subsidization, Buy American, and Davis Bacon requirements
The Clean Wafer Sfafe Revolving Fund: Tapping its Untapped Potential
provides the first compilation of the nontraditional project eligibilities
2007 under the original CWSRF statutory authority
EPA hosts national conference on Paying for Sustainable Water
Infrastructure: Innovations for the 21 st Century

Annual assistance provided reaches $5 billion for the first time,
funding 1,859 projects
Over 1,000 nonpoint source projects are funded for the first time
in one year: 1,1 83 projects totaling $370.3 million
CWSRF Benefits Reporting System (CBR) is created to document the
^UUO environmental and public health benefits of CWSRF financed projects
Cumulative assistance provided tops $20 billion
1998 The first EPA/State Workgroup meeting takes place in February

2017 Annual Report | Page 6

Fund Timeline
National Information Management System (NIMS) for CWSRF is created,
providing a central source for programmatic and financial data
The Clean Wafer State Revolving Fund Funding Framework is
released, which articulates a process for identifying and
prioritizing nontraditional projects in an effort to move
towards a watershed approach
The Drinking Water State Revolving Fund, modeled after the
success of the CWSRF, is created by the Safe Drinking Water

Cumulative assistance provided exceeds $10 billion
For the first time, annual leveraged bonds issued
reaches $1 billion

EPA issues CWSRF Interim Final Rule
Maryland and Washington fund the first nonpoint 1990
source projects totaling over $300,000
Iowa and New Jersey are the first states to leverage, yielding a
total of $79.2 million
EPA's Environmental Financial Advisory Board is created, devoting
a significant amount of attention to the CWSRF
EPA issues CWSRF Initial Guidance and Letter of Credit Brochure
On March 30, the first CWSRF capitalization grants are awarded to -i o o o
Tennessee and Texas -L -7 OO
The Council of Infrastructure Financing Authorities is established
1987 Amendments to the Clean Water Act pass Congress, creating the Clean Water
State Revolving Fund and phasing out the Construction Grants Program
Completion of the report, Study of the Future Federal Role in Municipal
Wastewater Treatment, recommending the creation of state revolving
2017 Annual Report | Page 7

Figure 5; CWSRF Cumulative and Annual Assistance
$118.7	$7.4
¦ 1988-2016 12017
in 2017, the CWSRF programs extended 1,484 loans and provided more than $7.4 billion in assistance to a
wide variety of eligible borrowers. 2017 marks the third highest annual funding level in the history of the
A hallmark of the CWSRF programs is the below market interest rates that they are able to offer. The weighted
average interest rate for CWSRF loans dropped from 1.6 percent to a historic low of 1.4 percent in 2017, a
significant savings from the prevailing market interest rate of 3.5 percent. The CWSRF programs' ability to offer
below market interest rates is one of the most powerful tools that states use to ensure that financing terms
align with the borrower's ability to repay the loan. States are aware of the infrastructure financing challenges
faced across the country and continually seek to provide the most cost effective solutions.
CWSRF programs have other tools at their disposal that enable them to provide further cost savings above and
beyond the savings provided by low interest rates. Referred to as additional subsidization, these tools include
principal forgiveness, grants, and negative interest loans. Since 2009, the programs have provided almost $4.6
billion in additional subsidization. This additional financial assistance is critical to the CWSRF programs' ability
to reach economically stressed communities. Over $300 million, approximately 4.1 percent of the assistance
provided in 2017, was provided in the form of principal forgiveness and direct grants.
2017 Annual Report || Page 8

Figure 6: Funding for Hardship
(Disadvantaged) Communities 2013 - 2017
The CWSRF programs provided 191
assistance agreements to hardship
(disadvantaged) communities,
as defined by the state, in 2017,
These communities received over
$780 million in 2017, up from
$535 million in 2016. Criteria for
identifying hardship communities
varies from state to state, and it is
possible that a significant amount
of assistance to these communities
is not captured in the data
reporting system.








2013 2014
2015 2016 2017
options have
allowed these
to pass on
costs savings.
Rising demand for the CWSRF
programs has led states to turn to
leveraged bonds to raise funds for
projects. High bond issue levels
were standard in 2008 - 2011,
then fell off from 2012 - 2015.
Strong demand for the cost savings
of borrowing from the CWSRF
programs prompted a significant
increase in gross leveraged
bonds issued in 2016 and 2017.
Low interest rates and sustained
wastewater infrastructure
needs likely will contribute to a
continuation of these higher bond
issues in the near future.
Figure 7: Gross Leveraged Bonds Issued
2008 - 2017
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
2017 Annual Report | Page 9

The Clean Water Act requires an annual financial audit of the 51 state-level CWSRF programs. Each
state and Puerto Rico conducts these audits according to the generally accepted accounting standards
(GAAP) established by the Governmental Accounting Standards Board (GASB). States often define their
CWRSF programs as ongoing enterprise funds under the GASB definitions of funds.
2017 Financial Highlights
•	The CWSRF programs provided over $7.4 billion in funding. In just
the past two years alone, over $15 billion in low cost financing went to
2,825 high priority projects.
•	Cumulatively, the CWSRF programs have provided over $126 billion
over the past 30 years.
•	Almost 3 percent increase ($1.4 billion) in CWSRF Program Equity (net
assets), for a cumulative total of $49.6 billion.
•	Nearly $6.3 billion was disbursed for projects, which is a $200 million
increase from the previous year.
•	Earnings from loans and investments exceed bond and administrative
expenses by $272 million.
•	Leveraged bond proceeds added an additional $2.2 billion to program
cash flow, which is $351.8 million greater than the amount added in
the previous year.
2017 Annual Report | Page 10

National aggregate financial statements have been developed using data entered in EPA's National
Information Management System between July 1, 2016 and June 30, 2017, Because the 51 CWSRF
programs are independent state-level entities, no nationally audited CWSRF program financial reports
are available. The financial statements are non-audited, cash flow-based financial reports. The four
statements are described below.
Statement of Fund Activity (Page 12)
Provides an overview of major indicators of fund activity, including capitalization grant levels, project
commitments, project disbursements, and subsidies provided. Both annual and cumulative data are
Statement of Revenues, Expenses, and Earnings (Page 13)
Describes the overall performance of the CWSRF fund over the reporting period that is reflected in the
increase or decrease in net assets.
Statement of Cash Flows (Page 14)
Provides a detailed accounting of the actual flow of cash into and out of the CWSRF fund.
Statement of Net Assets (Page 15)
Describes CWSRF assets and liabilities through the end of the fiscal year. Assets include financial assets
and capital assets. Liabilities include both current and long term liabilities. CWSRF assets include grant
funds that have been drawn from the federal treasury to date, but do not include total grant awards.
CWSRF assets also include state matching contributions that have been deposited in the fund.
2017 Annual Report | Page 11

Statement of Fund Activity (Millions of Dollars)
Annual Fund Activity
FY 2016
FY 2017
Federal Capitalization Grants
State Matching Funds
New Funds Available for Assistance
Executed Assistance Agreements
Project Disbursements
Cash Draws from Federal Capitalization Grants
Total Annual Subsidy
Negative interest
Principal Forgiveness
Cumulative Fund Activity

Federal Capitalization Grants
State Matching Funds
Funds Available for Assistance
Executed Assistance Agreements
Project Disbursements
Cash Draws from Federal Capitalization Grants
Total Cumulative Subsidy
Negative Interest
Principal Forgiveness
Cumulative Executed Assistance Agreements as a percent of Funds Available for Assistance ("pace") remains
at 98 percent, continuing the trend of successfully directing CWSRF funding towards projects that address
many important water quality problems. Below market interest rates, flexible financing options, and effective
outreach contributed to the ongoing success of the CWSRF programs.
2017 Annual Report | Page 12

Statement of Revenues, Expenses
(Millions of Dollars)
and Earnings
Operating Revenues
FY 2016
FY 2017
Interest on Investments
Interest on Loans
Total Operating Revenues
Operating Expenses

Bond Interest Expense
Amortized Bond Issuance Expense
Administrative Expenses
Additional Subsidy Provided
Total Expenses
Nonoperating Revenues and Expenses

Federal Contribution (Cash Draws)
State Contributions
Transfers from (to) DWSRF
Total Nonoperating Revenues (Expenses)
Increase (Decrease) in Met Assets
Net Assets

Beginning of Year
End of Year
Operating Expenses exceeded Operating Revenue by $22.1 million. This small deficit reflects the fact that
$294.5 million in additional subsidy was provided in FY 2017 to promote non-traditional projects and support
disadvantaged communities.
Revenue from loans and investments exceeded bond and administrative expenses by $272.4 million.
2017 Annual Report | Page 13

Statement of Cash Flows (Millions of Dollars)
Operating Activities
FY 2016
FY 2017
Cash Draws from Federal Capitalization Grants
Contributions from States
Loan Disbursements (Including Additional Subsidy)
Loan Principal Repayments
Interest Received on Loans
Administrative Expenses
Total Cash Flows from Operating Activities
Noncapital Financing Activities

Gross Leveraged Bond Proceeds
Bond Issuance Expense
State Match Bond Proceeds
Cash Received from Transfers with DWSRF
Interest Paid on Leveraged and State Match Bonds
CWSRF Funds Used for Refunding
Principal Repayment of Leveraged Bonds
Principal Repayment of State Match Bonds
Net Cash Provided by Noncapital Financing Activities
Investing Activities

Interest Received on Investments
Release (Deposit) of Leveraged Bond Debt Service Reserve
Net Cash Provided by Investing Activities
Net Increase (Decrease) in Cash and Cash Equivalents
Cash and Cash Equivalents

Beginning of Year
End of Year
2017 Annual Report | Page 14

Statement of Net Assets (Millions of Dollars)
FY 2016
FY 2017
Cash and Cash Equivalents
Debt Service Reserve - Leveraged Bonds
Loans Outstanding
Unamortized Bond Issuance Expenses*
Total Assets

Match Bonds Outstanding
Leveraged Bonds Outstanding
Total Liabilities
Net Assets

Federal Contributions (Cash Draws)
State Contributions
Transfers - Other SRF Funds
Other Net Assets
Total Net Assets
Total Liabilities and Net Assets
* Unamortized Bond Issuance Expenses are costs that have been incurred but have not been fully recognized
(amortized). These costs will be recognized (amortized) over time over the remaining life of the bonds outstand-
ing, similar to a pre-paid expense, and consistent with GAAP.
Loans Outstanding increased by over $2 billion, and is a main contributor to the over $2.1 billion increase in
Total Assets.
Federal and State Contributions helped increase Net Assets by nearly $1.4 billion.
The $22.1 million decrease in Other Net Assets is mainly due to the increased use of additional subsidy in FY
2017 Annual Report | Page 15

The Clean Water State Revolving Fund's Performance and Innovation in the SRF Creating Environmental
Success (PISCES) program allows assistance recipients to gain national recognition for exceptional projects
funded by the CWSRF. Participating state programs each nominated one project that demonstrates one or
more of the evaluation criteria:
•	Water Quality, Public Health, or Economic Benefits
•	Sustainability
•	Innovation
Projects eligible for recognition may be any size but must have
an executed assistance agreement in place. Also, projects may be
operational or in the planning phase. After all project nominations
were reviewed, EPA selected five exceptional projects for further
recognition. These five projects demonstrated excellence in
matching the PISCES criteria and pushed the envelope for being
innovative in using the CWSRF to achieve clean water for their
communities. Several additional projects closely demonstrated
this level of innovation and are recognized as an Honorable
Mention. This Annual Report highlights both the Exceptional
Projects and those projects chosen as Honorable Mention!
tfve SRF cv
2017 Annual Report | Page 16

Exceptional Projects
Program: Arkansas Clean
Water Revolving Loan Fund
Recipient: Little Rock
Wastewater Utility
Project: Sewer Service
Line Replacement
Under a Consent Order to reduce inflow and infiltration (l/l) to
their collection system to stop manhole overflows, the Little Rock
r Wastewater Utility has spent millions of dollars to rehab the
collection system and are starting to hit diminishing returns. As
a result, the Utility developed a Sewer Service Line Replacement
Program to work on reducing a different source of l/l into the
system. The program is designed to assist homeowners in paying for
the replacement of the service line from their home to the sewer
main. It is an ongoing effort to reduce l/l which will decrease the cost
of sanitary sewer collection and treatment as well as the customer's
monthly bill. The partial reimbursement program reimburses
homeowners up to $2,500 after their service line is replaced by a
plumber and inspected by the Utility. The program is funded with a
loan from the Arkansas CWSRF combined with a fund created using
revenues from a $1 surcharge on each customer's sewer bill.
The Utility encouraged homeowners to take advantage of
the financial benefit and replace their service line using
eye-catching colorful inserts included with sewer bills. The
Utility worked with the Arkansas CWSRF program to ensure
that therevolving fund could provide assistance to individual
homeowners. Because CWSRF funds were loaned to the
Utility, the innovative reimbursement structure allowed
individual homeowners, who are not usually eligible for
Arkansas CWSRF assistance, to benefit from the low-
interest loan program. The homeowner is responsible for
contracting for the work, ensuring that the CWSRF and the
Utility do not face the liability of entering a homeowner's property to replace the lines. This project makes
innovative use of new CWSRF project eligibilities, allowing the CWSRF to directly assist homeowners with
shouldering the burden of replacing the service line from their home to the utility sewer collection system, an
activity that was not previously eligible in the CWSRF.
Program: Delaware CWSRF
Recipient: DNREC Parks and Waste & Hazardous Substances
Project: NVF Yorklyn Site Wetland Project
The first of its kind in Delaware, this brownfield to wetlands conversion
project will use natural systems to remediate water bodies impaired
by decades of industrial activity. The loan will be repaid from
Hazardous Substances Control Act (HSCA) tax revenues and is
secured by a revenue pledge in the form of a Master-Lease
Purchase Agreement with the Department of Natural Resources and Environmental
Control (DNREC) as the Lessee and the CWSRF as the Lessor. A memorandum of
understanding between the parties gives DNREC the right to withhold HSCA tax
revenues to pay annual CWSRF lease payments. This innovative lease-purchase
financing structure allows the Division of Waste & Hazardous Substances (WHS)

2017 Annual Report | Page 17

g to borrow from the CWSRF without obligating the State to any indebtedness associated with a traditional
w loan agreement. In addition, the overall project involves a cooperative partnership between multiple state
agencies (DNREC-CWSRF, DNREC-WHS, DNREC-Parks and Recreation), the federal government (EPA-
Brownfields), and the private sector.
1 I \ The Delaware CWSRF provided $3.3 million
in financing to create 2 acres of wetlands by
replacing 29,000 tons of soil contaminated
with zinc with clean fill material and topsoil.
The wetlands will improve water quality, store
stormwater to mitigate flooding, help flush the remaining
zinc-impacted groundwater to the recovery trench, and
support the economic redevelopment of the Fiber Mills
District in Yorklyn. An additional $1 million loan will create
a series of additional wetlands around the project site to
protect residents and buildings from flooding and runoff.
Without the financing and spirit of partnership made possible
by the Delaware CWSRF, the remediation of the site was
estimated to take another 40 years and cost an additional $1.0.7 million.
Ohio EPA
Recipient: City of Akron
Project: Howard Storage
Basin - North Hill

Akron received an innovative financing package from Ohio EPA's
Water Pollution Control Loan Fund (WPCLF) program to construct a
2.4 million-gallon concrete storage basin to reduce combined sewer
{ overflows into the Little Cuyahoga River. Akron will borrow $22 million
($13 million at the special 0 percent rate for combined sewer overflow
[CSO] projects) at an overall blended interest rate of 0.93 percent.
In addition to the rate, the other terms of the assistance package
demonstrate the flexibility of the CWSRF to enable communities like
Akron to make these projects a reality. This is the first CWSRF customer
to receive 45-year term financing, which Ohio worked with U.S. EPA to
approve in January 2017. In total, this financing package will save Akron
approximately $16.9 million compared to financing this project at the
market rate of 3.68 percent. To eliminate any fees or the additional
costs of a		 		
agent, the WPCLF purchased a bond from Akron
and financed a portion of the project costs for the
extended term.
The Howard Storage Basin will hold excess flows
during periods of high rainfall and release the
combined sewage to the sewer system when flows
have dropped. Designed to contain the "typical year"
event without allowing any overflows to the river, this
project will dramatically enhance the water quality
in the Little Cuyahoga River. The Basin project also
is sponsoring three Water Resources Restoration
and Protection (WRRSP) projects (a land purchase, a
wetland restoration, and a dam removal), which will
discount the entire loan package an additional 0.1

2017 Annual Report | Page 18

Program: Rhode Island CWSRF
Recipient: Rl Airport Corporation (RIAC)
Project: RIAC Glycol Recovery System
The propylene glycol recovery system at the T.F. Green Airport, in Warwick, Rhode
Island, is one of only four de-icer management facilities in the world. Funded with
$33 million from the Rhode Island Infrastructure Bank, this world-class approach to
capturing contamination from plane de-icing chemicals allows the airport to comply
with its Rhode Island Pollutant Discharge Elimination System (RIPDES) permit. The
system replaces the previous management technique of using vacuum trucks to
capture propylene glycol from catch basins, which was only able to recover 20-30
percent of the pollutant. The new collection system achieves a laudable 60 percent collection
rate and has been sized to ensure the airport facility can grow and drive economic development.
The sophisticated system installed at T.F. Green Airport diverts stormwater runoff to storage tanks, where real-
time sensors can detect de-icer contamination and divert, store, and treat the runoff using anaerobic digestion.
Leaving no opportunity untouched, the system captures methane produced by the treatment process and uses
it to pre-heat the incoming waste stream as well as heat the treatment facility, which reduces operations and
maintenance costs by lowering natural gas usage at the facility by
95 percent. This well-considered process prevents propylene glycol
(known for lowering dissolved oxygen in waterbodies) from entering
Warwick Pond and Buckeye Brook. Buckeye Brook is undammed and,
along with Warwick Pond, serves as a spawning ground for many fish
such as alewife and blueback herring that migrate into Narragansett
Bay. The project protects the water quality for these fish species
essential to the Bay's ecosystem and the local fishing industry, and
received accolades from local watershed advocates.
W Program:
Washington Department of Ecology
Recipient: Tacoma-Pierce County
Health Department
Project: Regional On-Site
Sewage System Loan Program
The Regional On-Site Sewage System Loan Program (RLP)
consolidates multiple county-level septic loan programs
into a single public-private partnership (P3) between
[the State Department of Ecology, State Deptartment of
Health, multiple counties and local health jurisdictions,
and third-party lender CraftS. The Department of
Ecology contracted with CraftS, a nonprofit Community
Development Financial Institution (CDFI), through a
competitive procurement process, and created this P3
to administer a revolving loan fund. Funded with SRF
loans, Washington State Centennial Clean Water grants,
and private funds leveraged by Craft3, the RLP program
provides loan assistance to eligible property owners
across the region
to repair, upgrade, or replace failing or malfunctioning septic systems
(or convert to sewers in some cases), protecting public health and
water quality. Under this creative arrangement, Craft3 works with local
authorities to approve individual projects. CraftS assumes the financial
risk associated with lending and is obligated to repay the SRF funds.
The program creates economies of scale that leverage Craft3's lending
expertise and administrative infrastructure. This makes more funds

• ••

2017 Annual Report | Page 19

i	available for loans, outreach, and education, with less needed for program
administration. This allows local governments to reap the benefits of a SRF
funded program while receiving
support in managing the local loan program.
Low-income borrowers account for 36 percent
of the projects, many of who do not qualify
for traditional financing. The new consolidated
program streamlines and standardizes the
construction process, making it easier for
contractors to work across jurisdictions.
Contractors are paid immediately once each
system passes inspection. The RLP also lends
to small businesses, helping to stabilize local
PISCES Honorable Mentions
West Virgina CWSRF
Recipient: New Haven
Project: Septic Tank
Gravity System
The community of Winona is a former coal camp of 99 homes and
commercial buildings located in Fayette County, West Virginia. Current
wastewater disposal practices in Winona consist of direct discharges and
failing septic systems that release raw or partially treated wastewater into
local ditches, ravines, and streams. Because of this, Keeney Creek, which
flows through the center of the community, has the highest frequency of
bacteria violations in the New River watershed. This project creates a state-of-the-art decentralized sewer
system through a series of distributed high capacity septic systems. The project will treat wastewater using
Orenco Advantex technology, which recirculates effluent through sheets of textile filters that last longer and
require less maintenance than alternatives. The project combines principal forgiveness from the CWSRF with
grant funding from two state agencies to keep the project affordable (under $60 per month per household)
for this low-income community. The flexibility of the CWSRF to provide funding for pre-bid engineering, legal,
accounting, and administrative costs was key to making this project a reality.
2017 Annual Report | Page 20

Program: Illinois
Recipient: MWRD of
Greater Chicago
Project: Phosphorus
I. Recovery System
Program: Iowa SRF
Recipient: City of Dubuque
> 1
Project: Bee Branch Creek
When the Metropolitan Water Reclamation District of Greater Chicago
used CWSRF financing for improvements at their water reclamation
plant in Cicero, IL, they not only saved money, they made wastewater
treatment history. The project introduced the largest phosphorus
recovery system in the world. This new technology harvests phosphorus
from wastewater and transforms it into eco-friendly fertilizer, which will
divert 1,100 tons of phosphorus each year from the treated discharged
to the Mississippi River Basin. The phosphorus recovery facility is a
pre-engineered metal building housing fluidized bed reactors, chemical
storage, and chemical feed facilities for magnesium and sodium
hydroxide. Removing the nutrient and converting it to fertilizer provides
cost savings compared with traditional phosphorus removal in terms of
lower costs for chemicals, waste disposal, maintenance, and electricity.
The Bee Branch Creek project in Dubuque, Iowa is a success story about how a city dealt with an historic
neighborhood prone to flooding (with six Presidential Disaster Declarations and $70 million in damage
between 1999 and 2011) by replacing one-mile of storm sewer with a creek and floodplain. This daylighting
of the creek will not only allow stormwater from flash floods to safely move through the area (protecting
more than 1,000 properties), but will also restore aquatic habitat by allowing sunlight to foster the growth of
the microorganisms needed to sustain fish. The design includes riffles, runs, a cobble creek bed, submerged
boulders, and permeable pavement for nearby streets. The project proved its worth in 2017, when a heavy
thunderstorm caused minimal flooding compared to a similar storm in 2002 which resulted in more than
$11 million in damage. Nearly half the project's $60 million cost came from the CWSRF (including $6 million
principal forgiveness), and the city paid for the rest with financing from six other state and federal programs
and municipal stormwater utility fees.
2017 Annual Report | Page 21

Program; Minnesota
Recipient: Rock County
Implementation of
New Jersey
City of
Sporadic flooding is a part of life in the low-lying sections of Hoboken since
they are located in the tidal marsh of the Hudson River across from Manhattan.
The City also struggles with combined sewer systems overflows; during storm
events, the volume of sewage and stormwater overwhelms the system, causing
diluted raw sewage to back up into basements and neighborhoods. Hoboken
is tackling these problems head-on with a city-wide stormwater management
campaign and green infrastructure initiative, featuring two parks designed to
better handle stormwater flows. The green features of these parks include
underground detention systems, permeable paving, rain gardens, and bioswales
to filter and absorb street runoff. Together, these 1-acre and 6-acre park
facilities can detain up to 1.2 million gallons of stormwater and slowly release
it to the City's sewer system for treatment while providing green space. With
a total cost of $37 million, funding for these projects was provided by two
different New Jersey agencies, including $4.2 million in low-interest CWSRF
financing from the NJ Environmental Infrastructure Financing Program.
2017 Annual Report | Page 22
The Rock County Land Management Office has been a standout
local government unit when it comes to implementing
Minnesota's innovative Agricultural Best Management Practices
(AgBMP) Loan Program. In the 20-year history of the program,
the County has provided 377 loans worth nearly $8 million for
AgBMPs using CWSRF funds, state funds, and other financing
sources to reduce costs to the multi-generational farms. Dennis
Leuthold borrowed $149,000 to address high nitrates in local
wells by reconstructing his stockyard for 926 cows. The result
of the rancher's environmental stewardship efforts was an
immediate drop in nitrate levels well below drinking water standards. Elsewhere in Rock County, the owner of
Fluit Farm borrowed $200,000 to purchase a high clearance fertilizer applicator, improving his crop yield while
at the same time protecting residents with shallow drinking water wells from nitrate pollution. Demonstrating
the spirit of cooperative problem-solving embodied by Rock County, Fluit Farm also has offered to lend the
machinery to neighboring farmers.

2017 PISCES Recognized Projects
4 Greater Lawrence Sanitary District, MA
4 New Rochelle WWTP Upgrades, NY
4 Philadelphia Green Infrastructure, PA
4 City of Waynesboro, VA
4 Southern Kent Island, MD
4 Albertville Biosolids improvements, AL
4 Gracevilie Digester Project, FL
4 4th Avenue Ocean Outfall - Myrtle
Beach, SC
4 Hinesville Stormwater Infrastructure, GA
4 Three Rivers Protection and Overflow, IN
4 New Water R2E2: Resource Recovery, Wl
4 Conservation Commission Green
Infrastructure, OK
4 Wastewater Reuse Project, LA
4 Montoyas Arroyo Improvement, NM
4 Grand Lakes Reclaimed Water System,
4 Onsite Septic Remediation Program, MO
4 Boxelder Biological Nutrient Removal,
4 Fruitland Wastewater System
Consolidation and Facility Upgrade, ID
Information about all of the exciting
2017 PISCES Projects can be found in
the 2017 PISCES Compendium, which
can be accessed at
Recognition Program
2017 Annual Report | Page 23

EPA Region 1 — Boston, Massachusetts
Connecticut Department of Environmental Protection
Connecticut Office of the Treasurer
Maine Municipal Bond Bank
Maine Department of Environmental Protection
Massachusetts Water Pollution Abatement Trust
Massachusetts Department of Environmental
New Hampshire Department of Environmental
Rhode Island Clean Water Finance Agency
Rhode Island Department of Environmental
Vermont Department of Environmental Conservation
Vermont Municipal Bond Bank
EPA Region 2 — New York, New York
New Jersey Department of Environmental Protection
New Jersey Environmental Infrastructure Trust
New York State Environmental Facilities Corporation
New York Department of Environmental Conservation
Puerto Rico Environmental Quality Board
Puerto Rico Infrastructure Financing Authority
EPA Region 3 — Philadelphia, Pennsylvania
Delaware Department of Natural Resources and
Environmental Control
Maryland Department of the Environment
Pennsylvania Infrastructure Investment Authority
Pennsylvania Department of Environmental
Virginia Department of Environmental Quality
Virginia Resources Authority
West Virginia Development Authority
West Virginia Department of Environmental
West Virginia Infrastructure and Jobs Development
EPA Region 4 — Atlanta, Georgia
Alabama Department of Environmental Management
Florida Department of Environmental Protection
Georgia Environmental Facilities Authority
Georgia Environmental Protection Division
Kentucky Infrastructure Authority
Kentucky Division of Water
Mississippi Department of Environmental Quality
North Carolina Department of Environmental and
Natural Resources
South Carolina Department of Health and
Environmental Control
South Carolina Budget and Control Board
Tennessee Department of Environment and
Tennessee Comptroller of the Treasury
EPA Region 5 — Chicago, Illinois
Illinois Environmental Protection Agency
Indiana Department of Environmental Management
Indiana Finance Authority
Indiana State Budget Agency
Michigan Department of Environmental Quality
Michigan Municipal Bond Authority
Minnesota Pollution Control Agency
Minnesota Public Facilities Authority
Minnesota Department of Agriculture
Ohio Environmental Protection Agency
Ohio Water Development Authority
Wisconsin Department of Natural Resources
Wisconsin Department of Administration
EPA Region 6 — Dallas, Texas
Arkansas Natural Resources Commission
Arkansas Development Finance Authority
Louisiana Department of Environmental Quality
New Mexico Environment Department
Oklahoma Water Resources Board
Texas Water Development Board
2017 Annual Report | Page 24

EPA Region 7 — Kansas City, Missouri
Iowa Department of Natural Resources
Iowa Finance Authority
Kansas Department of Health and Environment
Kansas Department of Administration
Kansas Development Finance Authority
Missouri Department of Natural Resources
Missouri Environmental Improvement and
Energy Resources Authority
Nebraska Department of Environmental
Nebraska Investment Finance Authority
EPA Region 8 — Denver, Colorado
Colorado Water Resources and Power
Development Authority
Colorado Department of Public Health and
Colorado Department of Local Affairs
Montana Department of Environmental Quality
Montana Department of Natural Resources and
North Dakota Department of Health
North Dakota Public Finance Authority
South Dakota Department of Environment and
Natural Resources
Utah Department of Environmental Quality
Wyoming Department of Environmental Quality
Wyoming Office of State Lands and Investments
EPA Region 9 — San Francisco, California
Arizona Water Infrastructure Finance Authority
California State Water Resources Control Board
Hawaii Department of Health
Nevada Department of Conservation and Natural
EPA Region 10 — Seattle, Washington
Alaska Department of Environmental
Idaho Department of Environmental Quality
Oregon Department of Environmental Quality
Washington Department of Ecology
To access state program websites,
please visit www.epa.gov/cwsrf
2017 Annual Report | Page 25

For more information about the Clean Water State Revolving Fund, please contact us at
Clean Water
State Revolving Fund
United States Environmental Protection Agency
Office of Wastewater Management
Clean Water State Revolving Fund Branch
1200 Pennsylvania Avenue NW (4204M)
Washington, DC 20460
Office of Water • March 2018 • EPA Publication 830R17007