City of Enid Receives Invitation to Apply for WIFIA Loan
ENID, OK (November 1, 2018) –
City of Enid officials received notification today from the United States Environmental Protection Agency (EPA) that the Kaw Lake Water Supply Project has been selected and the City invited to submit an application for financial assistance for part of the project costs. The City has one year to make application for financial assistance under this program.
Established by the Water Infrastructure Finance and Innovation Act of 2014, the WIFIA program is a federal loan and guarantee program at EPA that 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.
EPA received 62 letters of interest from both public and private entities in response to the 2018 WIFIA Notice of Funding Availability (NOFA).
EPA’s Water Infrastructure Finance and Innovation Act (WIFIA) loans will allow large and small communities across the country to implement projects to address two national water priorities – providing for clean and safe drinking water including reducing exposure to lead and other contaminants and addressing aging water infrastructure.
City staff with our Municipal Financial Advisor and Bond Counsel will evaluate and analyze the City’s remaining financing needs for the Kaw Lake Water Supply Project and make recommendations to the City Commission in the near future on the City’s best options to proceed.