WIFIA PROGRAM The WIFIA program accelerates investment in our nation's water infrastructure by providing long-term, low-cost supplemental loans for regionally and nationally significant projects. The WIFIA program was established by the Water Infrastructure Finance and Innovation Act of 2014. APPLICATION REVIEW PROCESS Application Submission Finalize Documentation Execution Credit Due Diligence & Negotiation A prospective borrower should submit a complete for due diligence to begin. CREDIT DUE DILIGENCE EPA will review: • Terms, conditions, financial structure, and security features. • Dedicated revenue source(s) securing the financing and financial assumptions of the proposed project. • Borrower's financial soundness and credit history and outlook. • Strength of the business model and project economics. LEGAL DUE DILIGENCE EPA will review and negotiate: • Legal structure of proposed security. • Term sheet and loan agreement. Begin WIFIA approval process 6 MONTH TIMELINE (EST.) application within one year of invitation to apply TECHNICAL DUE DILIGENCE EPA will review: Appropriate technology and technical feasibility. Technical risk factors. Construction cost and schedule estimate assessment. Federal requirement compliance and procurement documents. Operation and maintenance plan. Systems condition assessment. © Application Fee: - $100,000 for large communities - $25,000 for small communities - Due with application submission - Credited to credit processing fee Credit Processing Fee: - Reimburses EPA for its financial, technical, and legal advisory costs - Estimated range of $250,000 - $500,000 - Varies with project complexity and risk - Due upon execution of loan E-MAIL: wifia@epa.gov WEBSITE: www.epa.gov/wifia SIGN-UP: Join our email list at https://tinyurl.com/wifianews SEPA ------- |