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This bill reauthorizes the CWSRF for $20 billion over five years, funds non-point and point source water-pollution-control programs, and creates pilot programs to promote stormwater best management practices and resiliency.
CROSS-COLLATERALIZATION STRENGTHENS PROGRAM: MFA's separate DWSRF and CWSRF programs are cross-collateralized with one another, which further enhances bondholder security by allowing for shortfalls in one program to be covered by surpluses in the other.
Water Alliance, New Jersey's CWSRF and DWSRF programs have the potential to create approximately 7,000 jobs.View the full article from NJBIZ at http://www.njbiz.com/article/20180906/NJBIZ01/180909937/epa-awards-845m-to-nj-for-water-infrastructure.
* $16,731,454 ($5,085,000 loan and $11,646,454 in loan forgiveness) from the CWSRF to the town of Vinton (El Paso County).
Since 1988, CWSRF has provided $47 billion, the most successful state-local-federal partnership for clean water.
Since the CWSRF was created by Congress in 1987, it has provided low-interest loans targeting a wide range of projects in wastewater treatment, non-point source pollution control, estuary management, and other projects focusing on water quality.
Even in the best of fiscal times, the CWSRF, distributed among 50 states, cannot address municipal needs to borrow for CSO projects and repay on favorable terms.
Work under this Contract will be funded in part with a financial award from the Water/Wastewater Financing Program funds through a financial award from the Water Fund, funded by the Oregon State Lottery and administered by the State of Oregon, Business Development Department, through the United States Department of Agriculture Department of Rural Development and the Department of Environmental Quality (DEQ) Clean Water State Revolving Fund (CWSRF).
CROSS-COLLATERALIZATION STRENGTHENS PROGRAM: The program includes a cross-collateralization feature wherein excess funds from the clean water SRF (CWSRF) are available to cover deficiencies in the drinking water SRF (DWSRF) and vice versa.
Those levels are: $1.39 billion for the CWSRF and $863 million for the DWSRF.
To finance these efforts, they will rely heavily on low-interest loans from the Environmental Protection Agency's (EPA) Clean Water State Revolving Fund (CWSRF) program to supplement their own funds.
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