Program Features
- Long-term, low-cost credit assistance for water resource infrastructure projects
- Funding of up to 49% of project costs
- Augments other public or private funding and financing sources
- Requires a dedicated source of repayment (i.e. state or local taxes, user fees, etc.)
- Available to projects or group of projects with eligible costs in excess of $20 million
Program Benefits
- Fixed, low interest rates near U.S. Treasury rates
- Interest accrues only once funds have been disbursed
- Customized repayment schedules
- Long repayment periods (up to 35 years after completion)
- Deferred payments during construction and up to 5 years after completion
- No prepayment penalties
Current Restrictions
- Projects must be non-Federally owned, operated, and maintained
- Projects must be dam safety projects included in the National Inventory of Dams
- Projects must meet statutory eligibility requirements, including creditworthiness