PROGRAM The Water Infrastructure Finance and Innovation Act (WIFIA) program accelerates investment in our nation's water infrastructure by providing long-term, low-cost supplemental loans for regionally and nationally significant projects. CITY OF LORAIN PROJECT NAME Water Treatment Plant Improvements LOCATION: Lorain, OH INVITED WIFIA LOAN AMOUNT $30 million POPULATION SERVED BY PROJECT: 64,000 PROJECT TYPE: Drinking Water PROJECT DESCRIPTION: The Water Treatment Plant Improvements Project will construct a new water treatment plant, located adjacent to the existing treatment plant, that will better serve the current and future demand capacity (approximately 13-17 million gallons per day). The purpose of this project is to expand treatment capacity and provide reliable and safe drinking water for decades to come to the 64,000 residents in Lorain and customers in the surrounding areas. FY 2020 SELECTION ROUND 25 million in 20 states Selected projects must submit an application for a WIFIA loan, pass a creditworthiness assessment, negotiate a mutually agreeable term sheet, and execute a credit agreement to receive WIFIA funding. An invitation to apply indicates that EPA believes the selected projects will be able to attain WIFIA loans. TOTAL LOAN AMOUNT $5.1 billion TOTAL WATER INFRASTRUCTURE INVESTMENT SUPPORTED: $12.5 billion NUMBER OF PEOPLE IMPACTED: NUMBER OF PROJECTS SELECTED: 55 United States Environmental Protection Agency WEBSITE: www.epa.gov/wifia EMAIL; wifia@EPA.gov ------- |