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Fund F - Water

 

Interest Rates:

These rates are effective July 1, 2018, and are subject to change. 

SFY 2019
Loan TypeMHI ThresholdInterest Rate
Construction> or = $44,8113.00%
Construction$35,850 - $44,8102.00%
Construction< or = $35,8490.50%
Planning and DesignNA3.00%

 

Repayment Period:

First repayment due within one year of project completion.  Thirty-year loans may be available for disadvantaged communities.

 

Application Fee:

None

 

Loan Service Fee:

A fee of 0.25% of the unpaid loan balance paid annually.

 

Loan Payment Frequency:

Semi-annually each June 1 and December 1.

 

Replacement Reserve:

5% of the gross KIA loan amount funded over 20 years and maintained by the borrower for the life of the loan.

 

Eligibility:

Governmental agencies, other than federal agencies, for facilities necessary to achieve or maintain compliance with the Safe Drinking Water Act or to protect public health. Borrower must demonstrate financial, managerial, and technical capacity. Project must be included on the project priority list in the Intended Use Plan for the Drinking Water State Revolving Fund loan program.

 

Priority of Loan Awards:

Awards are based on the project ranking on the Clean Water Project Priority List. Applicants are invited to apply for funding based on the degree of environmental impact of the project.

 

Types of Projects that get Funded:

Waterline replacements,  Waterline Extensions, New Water Storage Tanks, Pumps, new Water Treatment Plants and Treatment Upgrades, Generators, Water Meters, etc.​