Federal Loan to Help Fund Indiana Water Projects
The U.S. Environmental Protection Agency has announced a $436 million loan for Indiana. The Water Infrastructure Finance and Innovation Act loan will help finance drinking water and wastewater projects in 20 Indiana communities.
“When we say infrastructure, we often think of our roads, but Indiana has more than 46,000 miles of water infrastructure,” Gov. Holcomb said. “Delivering clean water and protecting public health are top priorities, and I am grateful that our partnership with the EPA will help empower communities across Indiana to take our water systems to the Next Level.”
Drinking water projects include work to improve water treatment plants, distribution systems, storage tanks, wells and pump stations, along with building features to help with conservation. Wastewater projects include increasing capacity in wastewater treatment plants, collection systems and tunnels to capture overflow.
Indiana's State Revolving Fund will be able to lend almost $900 million to support projects throughout the state. The WIFIA program will finance up to $436 million. The federal loan is estimated to save the Indiana Finance Authority $20 million compared to usual bond financing. Construction and operation of the projects are expected to generate over 3,000 jobs.