U.S. EPA Invites Santa Clara Co. Water District to Apply for Infrastructure Loan to Ensure Reliable and Safe Drinking Water in the Face of Climate Change
SAN FRANCISCO – The U.S. Environmental Protection Agency (EPA) announced that two more projects nationwide, including one in California, are invited to apply for Water Infrastructure Finance and Innovation Act (WIFIA) funding. The Pacheco Reservoir Expansion Project for the Santa Clara Valley Water District will join 55 selected projects, bringing the total FY 2020 invitation amount to nearly $7 billion to help finance over $18 billion for water infrastructure projects.
“Providing access to safe drinking water is one of EPA’s highest priorities,” said EPA Pacific Southwest Regional Water Division Director, Tomás Torres. “Through WIFIA, EPA is playing a key role in supporting the Pacheco Reservoir Expansion Project to ensure safe and reliable drinking water in Santa Clara Valley for generations to come.”
The Santa Clara Valley Water District has met the rigorous WIFIA engineering and creditworthiness standards and is now being invited to apply for FY 2020 funding.
The Pacheco Reservoir Expansion Project for Santa Clara Valley Water District will receive a $693 million loan from WIFIA. The project will expand the Pacheco Reservoir to 140 thousand acre-feet by constructing a new dam, pump station, conveyance facilities, and related infrastructure. The project will boost operational capacity and reduce the frequency and severity of water shortages during droughts, protect drinking water supplies, and improve fish habitat.
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, low-cost supplemental credit assistance for regionally and nationally significant projects. 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: https://www.epa.gov/wifia