SEATTLE – Today, at an event at the West Point Treatment Plant, the U.S. Environmental Protection Agency Acting Assistant Administrator for Water Bruno Pigott announced a $194 million Water Infrastructure Finance and Innovation Act loan to King County in Washington.
This loan is the first installment of funding available to King County under a new master agreement, where EPA has committed to provide almost $500 million in low-interest funding for future water infrastructure projects.
Pigott was joined by EPA Region 10 Administrator Casey Sixkiller and King County Executive Daw Constantine in celebrating the announcement. EPA’s loan will support critical wastewater infrastructure updates to make the system more reliable and continue to protect Puget Sound.
Since its creation, EPA’s WIFIA program has announced over $20 billion in financing to support over $43 billion in water infrastructure projects that are strengthening drinking water, wastewater, and stormwater infrastructure while creating over 140,000 jobs.
“EPA’s WIFIA loans have a track record of success and nowhere is that clearer than here in King County, where two loans have already reduced the amounts of sewage and untreated stormwater entering local waterways,” said EPA Acting Assistant Administrator for Water Bruno Pigott. “This $194 million loan is just the latest in the Biden-Harris Administration’s Investing in America Agenda. Through WIFIA and with $50 billion for water under President Biden’s infrastructure law, EPA is making unprecedented investments and making strides toward a clean and safe water future for all communities.”
“Making critical improvements in wastewater infrastructure is vital to protecting communities and the environment from pollution emergencies,” said Sen. Maria Cantwell. “The investment being made to the West Point Wastewater Treatment plant will allow the largest wastewater facility in the state of Washington make needed upgrades to help it safely serve the growing Seattle region and protect against untreated wastewater discharges that can harm the Puget Sound ecosystem.”
“An efficient wastewater treatment plant is critical to protecting the environment and reducing pollution,” said Sen. Patty Murray. “I’m thrilled to have helped secure this loan for King County to make much needed upgrades to the wastewater treatment plant that is responsible for over 100 millions of gallons per day. Not only will this help make the plant more efficient, it will help to keep costs down for every single ratepayer in King County.”
"I applaud King County for securing this federal loan to upgrade critical wastewater infrastructure, while better preparing its system for the climate crisis,” said Rep. Pramila Jayapal. “Communities in my district rely on the health of our waterways and natural environment, and the Biden-Harris Administration's nearly $500 million commitment to King County is a victory investment that will better protect Puget Sound for decades to come."
King County has already used WIFIA resources twice before to improve stormwater treatment with the Georgetown Wet Weather Treatment Station and to build an underground storage tunnel for the Ship Canal Water Quality Project with Seattle Public Utilities.
The majority of the latest WIFIA loan will go toward various clean-water investments at West Point Treatment Plant, which cleans wastewater and stormwater. This project makes several improvements at the wastewater treatment plant, including removing corroded pipes, upgrading raw sewage pumps, and implementing structural upgrades to the administrative building to protect against future seismic events. As a result, West Point will protect Puget Sound, a culturally important waterbody to Coast Salish Tribes, and better manage daily and peak flows, which are anticipated to be more intense and frequent due to climate change.
"The Biden administration is once again demonstrating its strong commitment to protecting the natural environment throughout the country, including one of the nation’s premier waterbodies, the Puget Sound,” said King County Executive Dow Constantine. “Earning a half-billion-dollar commitment for clean-water infrastructure reflects King County’s reputation as a trusted fiscal and environmental steward, producing the best results for each public dollar we invest for people, salmon, and orcas.”
King County was EPA’s first WIFIA borrower, closing their first loan in 2018, and this will be their third WIFIA loan. With this $194 million loan, King County expects to save nearly $20 million and create about 1,500 jobs. It is the first WIFIA loan under a master agreement that will commit $498 million to accelerate the implementation of the county’s Wastewater 2024 Improvement Project. Future financing will support other critical projects across the regional wastewater system.
Learn more about EPA’s WIFIA Program and water infrastructure investments under the Bipartisan Infrastructure Law.
Background
Established by the Water Infrastructure Finance and Innovation Act of 2014, the WIFIA program is a federal loan program administered by EPA. The WIFIA program aims to accelerate investment in the nation’s water infrastructure by providing long-term, low-cost supplemental credit assistance for regionally and nationally significant projects. The WIFIA program has an active pipeline of pending applications for projects that will result in billions of dollars in water infrastructure investment and thousands of jobs.
In 2018, King County was the first loan recipient under the federal act, when the EPA issued a $134.5 million loan to help construct the Georgetown Wet Weather Treatment Station. In 2021, King County closed on a $96.8 million loan to help design and construct the Ship Canal Water Quality Project, which is a partnership with Seattle Public Utilities.
EPA recently made the seventh round of WIFIA financing available and is currently accepting letters of interest for WIFIA and SWIFIA loans. A total of $6.5 billion is available through WIFIA, and $1 billion is available through SWIFIA, which is a loan program exclusively for State infrastructure financing authority borrowers. Learn more about submitting a letter of interest for a WIFIA loan.
In addition to WIFIA loans, there are many federal funding resources available for communities and utilities to improve vital water and wastewater resources. President Biden’s Bipartisan Infrastructure Law is a once-in-a-generation investment in our nation’s infrastructure and competitiveness. The Bipartisan Infrastructure Law provides a historic $50 billion investment in upgrading critical water, wastewater, and stormwater infrastructure.
from EPA News Releases https://ift.tt/W4Gtdkj