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 SANTA MONICA PROJECT NAME Sustainable Water Supply Program LOCATION: Santa Monica, CA INVITED WIFIA LOAN AMOUNT $84 million POPULATION SERVED BY PROJECT: 92,416 PROJECT TYPE: Combined PROJECT DESCRIPTION: The Sustainable Water Supply Program will consist of several innovative water supply projects including new groundwater resiliency and recharge wells and potable reuse of recycled water. The purpose of these projects is to achieve water self-sufficiency and eliminate demands on imported water supplies. 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 ------- |