News Releases from Headquarters›Water (OW)
EPA Announces $44 Million Water Infrastructure Loan to the City of North Miami Beach
The 24 WIFIA loans issued under President Trump are helping finance more than $11 billion in water infrastructure projects
WASHINGTON (June 29, 2020) — Today, the U.S. Environmental Protection Agency (EPA) announced a $44 million Water Infrastructure Finance and Innovation Act (WIFIA) loan to the City of North Miami Beach, Florida to help finance the expansion and rehabilitation of its drinking water treatment plant and distribution system. The project will help ensure that this growing city has a reliable supply of safe drinking water to meet future demand.
“This WIFIA loan is the latest investment by the Trump Administration in Florida, and the country’s, water infrastructure,” said EPA Administrator Andrew Wheeler. “This low-cost and effective investment tool is being used to upgrade wastewater and drinking water infrastructure – supporting public health, the environment, and the local economy in this rapidly growing area – all while saving local taxpayers $130 million.”
Through WIFIA, EPA is playing a key role in President Trump’s efforts to improve and upgrade our nation’s water infrastructure in communities across the country. With this loan closing, EPA has now issued 24 WIFIA loans totaling $5.3 billion in credit assistance to help finance $11.7 billion for water infrastructure projects while creating 25,000 jobs.
The North Miami Beach Water Regional Potable Water Improvements project will expand capacity and rehabilitate the Norwood Water Treatment Plant and upgrade the city’s water main distribution system. These improvements will allow the city to meet current and projected 2030 average daily demand and maximum daily demand. The project will also improve overall reliability of the water supply, improve treatment and distribution systems, and reduce the frequency of pressure drops in the water distribution system and main breaks.
“Across the Southeast, WIFIA Loans are supporting cities like North Miami Beach in their efforts to modernize and upgrade water infrastructure,” said EPA Region 4 Administrator Mary S. Walker. “These upgrades are key to providing Floridians with clean and safe water while protecting human health and the environment.”
“The City of North Miami Beach is dedicated in taking all necessary measures to improve its water utility infrastructure and to improve the lives of its residents and customers in northern Miami-Dade County. This project will help maintain predictability in bringing sustainable, clean, safe, drinking water to taps. In conjunction with the EPA WIFIA program, we are furthering this mission,” said Esmond K. Scott, City Manager, City of North Miami Beach.
This project will cost $90 million, and EPA’s WIFIA loan will finance nearly half of that figure. Additionally, the remaining project funds will come from a combination of revenue bonds and borrower cash. The WIFIA loan will save the City of North Miami Beach an estimated $11.5 million compared to typical bond financing. Project construction and operation are expected to create 288 jobs.
Background on WIFIA
Established by the Water Infrastructure Finance and Innovation Act of 2014, the WIFIA program is a federal loan and guarantee program administered by EPA. WIFIA’s aim is to accelerate investment in the nation’s water infrastructure by providing long-term and low-cost supplemental credit assistance for regionally and nationally significant projects. EPA’s WIFIA program plays an important part in President Trump’s infrastructure plan, which calls for expanding project eligibility. 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.
For more information about the WIFIA program’s accomplishments through 2019, visit: https://www.epa.gov/newsreleases/epa-announces-first-wifia-annual-report-highlighting-35-billion-infrastructure-funding.
For more information about the WIFIA program, visit https://www.epa.gov/wifia.