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What is the CWSRF?
The Clean Water State Revolving Fund (CWSRF) is the best choice to finance publicly owned wastewater treatment, sewer rehabilitation, replacement, and construction, and storm water quality improvements. Since 1989, the CWSRF has provided
more than $640 million in financing assistance for water pollution control.
What's in the CWSRF for Water Pollution Control?
Publicly owned treatment works (POTWs) owned by cities, counties, and sanitary districts are eligible for assistance from the CWSRF. The CWSRF now offers two types of below-market financing for POTWs:
- Planning and design (P&D) loans - 0% interest for up to three years to cover engineering and project development costs. P&D loans can be rolled into a CWSRF construction loan, or paid off with other permanent financing.
- Construction loans - Lowest cost funds compared to other financing options, with interest rate of 3%. Loan term is 20 years, with an option of financing up to 30 years based on the useful life of the planned facility.
On a 20-year, $2 million dollar loan, a typical community can save almost $500,000 compared to non-SRF financing. CWSRF loans can be used in conjunction with other state and federal grants. In recent years, loans have ranged from a $25,000 planning and design loan to the City of Brayton to a $31 million construction loan to Sioux City. The CWSRF currently can fund all eligible projects, with the capacity to generate more than $100 million per year for Iowa's wastewater needs.
How Does an Applicant Get a CWSRF Loan?
The Department of Natural Resources (DNR) and the Iowa Finance Authority (IFA) jointly administer the CWSRF. DNR administers the environmental and permitting aspects to get projects ready for financing. This includes engineering and design approval, environmental review, and construction and operating permits. IFA works with applicants on loan approvals and disbursements. Applications are accepted year-round and project lists are approved on a quarterly basis, so funding can be available when the community's project is ready.
What's New in the CWSRF?
- Providing coordination and assistance with environmental and historical review process through a new DNR Environmental Review Services Coordinator.
- Funding urban storm water management projects that protect water quality.
- Four new programs that address non-point source water pollution through loans to cities, rural homeowners, farmers and landowners, livestock producers, and watershed organizations.
For More Information:
Patti Cale-Finnegan, DNR SRF Coordinator
515-725-0498 or patti.cale-finnegan@dnr.iowa.gov
Lori Beary, Iowa Finance Authority
800-432-7230 or
lori.beary@iowa.gov
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