WIFIA Frequent Questions
The table below listing WIFIA program questions and answers can be sorted by Category by clicking the column header. The table can be filtered using the Category drop-down menu. The table can be searched by entering a keyword in the Search box.
| Category | Question | Answer |
|---|---|---|
| American Iron and Steel | What products have a standing American Iron and Steel waiver? | There are no active national American Iron and Steel (AIS) waivers for products other than the waiver that exempts pig iron and direct-reduced iron from the AIS requirement. AIS waivers are only granted in certain circumstances. See American Iron and Steel Requirements for WIFIA. |
| Application | What financial information does EPA require and review for private entities seeking WIFIA funding? | The WIFIA program has published application materials, including separate letters of interest for public and private entities. These materials should help private entities understand what financial information the WIFIA program requires and reviews. See WIFIA Private Borrowers for more information. |
| Application | Is there a penalty for downsizing the loan from the amount detailed in a letter of interest? | No. There is no penalty for downsizing the loan from the amount detailed in the letter of interest. |
| Application | During application, is it looked upon negatively if there is a lawsuit against the borrower? | No, unless the lawsuit involves something like the ongoing history of financial mismanagement or if the lawsuit impacts the proposed WIFIA project. The associated financial risk from the lawsuit will need to be included in the WIFIA program's analysis. |
| Application | Is there a cost to apply for WIFIA financing? | There is no cost to submit a letter of interest. Once an entity is selected to apply, there is an initial down payment of $100,000 due at the time of application submission. If the community population is less than 25,000 then the cost is $25,000. The initial down payment goes toward the credit processing fee at loan closing. If a portion of the down payment is not used, the borrower will be reimbursed. |
| Application | What is the required timing for the rating letter? | For the letter of interest, prospective borrowers can submit either a rating letter or a financial pro forma. At application, an indicative/preliminary rating letter is required. A final, public rating letter is generally required before loan closing. |
| Application | If the borrower has an older rate study, can they submit that in lieu of a new study, which may not be completed for a few years? | The borrower should contact the project's WIFIA transaction team to determine if the previous rate study can support the financing or if they will need a new rate study to demonstrate creditworthiness. |
| Application | Is it okay to change the project from the letter of interest to application? | Yes. The WIFIA program understands that projects evolve and can accommodate that evolution. |
| Application | Does the WIFIA program have instructions on how to get a rating letter? | No. However, rating letters are widely available online through organizations like Standard and Poor's (S&P), Moody's, and Fitch. The WIFIA program cannot share other applicants' letters without their express permission, but the WIFIA team recommends that the rating letter includes explicit language similar to those available through S&P, Moody's, and Fitch. If the prospective borrower believes their rating letter may require specific language, they should ask their WIFIA transaction team for written direction or policy to use in their rating letter to ensure compliance with WIFIA standards. |
| Build America, Buy America | What happens when a borrower seeks a programmatic waiver for a subset of projects that require BABA? | The WIFIA program's BABA waiver applies to an entire loan. If one sub-project qualifies, then the entire project receives the waiver. This is not true for entire master agreements since they are separate loans under one agreement. |
| Build America, Buy America | If a borrower closed their WIFIA loan prior to May 14, 2022, would they be covered under the BABA waiver? | BABA does not apply for loans issued prior to May 14, 2022, so the BABA waiver would not be necessary for these loans. |
| Build America, Buy America | Is WIFIA's programmatic BABA waiver being revisited? | The WIFIA program does not expect its programmatic BABA waiver to change at this time. Although, WIFIA staff does anticipate the program waiver will be phased out over time as projects no longer meet the criteria of the waiver. |
| Build America, Buy America | Can a BABA determination be made before an application is submitted? | A contingent determination can be provided. The determination would be made under the assumption that the qualifying sub-project is not removed from the project list. |
| Build America, Buy America | Does BABA apply to vehicles? | The Office of Management and Budget has revised its guidance regarding defining infrastructure, which impacted BABA's application to vehicles. Active guidance indicates some vehicles, such as those used in the operation of water or wastewater treatment, are subject to BABA, while others, including personal vehicles, are not subject to BABA. |
| Co-funding | Can projects get both WIFIA and State Revolving Fund loans? | Yes. The WIFIA and State Revolving Fund programs are frequent co-funders. For most projects, the WIFIA program can provide up to 49 percent of the financing and the State Revolving Fund loans could finance some or all of the remaining eligible project costs. In many cases, State Revolving Fund funding does not count towards the 80 percent Federal fund limit outlined in the WIFIA Program Handbook, but it depends on which funds the state has allocated for the project. Borrowers can contact the State Revolving Fund to inquire about the funds being used for the project, and WIFIA program staff can help coordinate with the State Revolving Fund program to ensure that the co-funding does not exceed the 80 percent threshold. |
| Co-funding | What are the common sources of co-funding for WIFIA projects? | WIFIA borrowers can utilize a variety of sources to co-fund their projects, including State Revolving Fund assistance, bonds, cash, and other federal or state loan or grant programs. |
| Contracts | For professional services contracts that were previously awarded and completed (e.g., engineering design, feasibility studies), what are the exact procurement requirements that need to be met to be eligible for federal funding? | There are no procurement requirements other than communication of certain federal requirements. See WIFIA Federal Requirements. |
| Contracts | Do federal procurement requirements apply to WIFIA funded projects? | Federal procurement standards and requirements don’t apply to WIFIA loans. So as long as borrowers follow their state and local rules for procurement, the WIFIA program does not require any additional steps in procurement or imposes additional requirements, including those in 2 CFR 200.319. |
| Contracts | What type of bid solicitations does the WIFIA program allow? | The WIFIA program allows any type of bid. The bid solicitations must include the necessary communications on federal requirements that are discussed. |
| Contracts | Does the WIFIA program allow collaborative project delivery methods (e.g., CMAR, Design-Build)? | Yes. The WIFIA program allows collaborative delivery methods. |
| Contracts | Does the WIFIA program allow Construction Manager at Risk (CMAR) contracts structured as a cost plus fee contract? Are the fees negotiated as part of the contract (e.g., profit and overhead) eligible project costs? | Yes. The WIFIA program allows Construction Manager at Risk contracts. This includes cost plus fee contracts or any other collaborative project delivery methods. The fees negotiated as part of the contract (e.g., profit and overhead) are eligible project costs. The WIFIA program requires that borrowers follow their local and state procurement laws and that all contracts include the federal compliance requirement like American Iron and Steel (or Build America, Buy America if applicable) and Davis-Bacon. |
| Contracts | Are contracts procured prior to the WIFIA application, and that did not include design-bid-build in the procurement, considered eligible costs? | Yes. Federal procurement standards and requirements don’t apply to WIFIA loans. The program understands that borrowers may have procured services prior to seeking WIFIA funding and accepts these as eligible project costs so long as they followed local and state rules for procurement. |
| Contracts | Does the WIFIA program review service contracts (design contracts)? | No. The WIFIA program does not review service contracts. However, similar to construction contracts, service contracts need to follow local and state procurement laws. |
| Contracts | Can the WIFIA program review and approve a borrower's contract language to make sure it conforms to the WIFIA loan requirements? | The WIFIA program generally does not approve contract language. It is the responsibility of the borrower to follow the terms of the Loan Agreement and the information provided at WIFIA Federal Requirements. However, if a borrower has a question or concern the WIFIA team may be able to offer guidance. |
| Contracts | Can EPA provide a document with all the required or recommended bid/contract language to comply with the federal requirements imposed by the WIFIA program? | The WIFIA program has contract language to communicate federal requirements for WIFIA-funded projects at WIFIA Federal Requirements. |
| Contracts | Do borrowers need to access a company’s data on the System for Award Management (SAM) if it is restricted? If so, how? | Yes. WIFIA borrowers must certify a company's suspension and debarment status. The WIFIA program created a "Checking Exclusions on SAM" resource. If a borrower has difficulty finding a company, they may ask a company to provide a screenshot of their registration and current status to help identify the company. |
| Contracts | Does EPA have a Disadvantaged Business Enterprise contractor/subcontractor participation percentage (or goal or target) for a project which is funded by the WIFIA program? Are borrowers required to create and maintain a bidder list of Disadvantaged Business Enterprise-qualified contractors and subcontractors? | No. The Disadvantaged Business Enterprise requirement does not apply to the WIFIA program. |
| Contracts | Would sole source work or other work done under Professional Service Agreements and Master Service Agreements be eligible to be included if not competitively bid through a traditional offering? | Yes. Sole source work or other work done under Professional Service Agreements and Master Service Agreements would be considered eligible project costs. |
| Contracts | Are contractors and subcontractors required to register on SAM.gov? | Prime contractors must register under the governmentwide System for Award Management (SAM.gov), and borrowers must check their registration. For lower-tier contracts (i.e., subcontractors), there are three ways to comply with debarment and suspension requirements, only one of them requiring registration on the System for Award Management. Per Subpart C of the Office of Management and Budget guidance in 2 CFR part 180, borrowers must verify that the subcontractor is not debarred or suspended from government-funded activities. Borrowers can do this by: (a) Checking System for Award Management Exclusions; or See Debarment and Suspension for more information. |
| Contracts | Are there any requirements (minimum or maximum percentages) for WIFIA-funded projects for how much of the work can be performed by subcontractors? | No. The WIFIA program does not have any minimum or maximum percentages for how much of the work can be performed by subcontractors. |
| Eligibility | What type of activities are eligible for WIFIA loans? | Development phase activities, including planning, preliminary engineering, design, environmental review, revenue forecasting, and other pre-construction activities; construction, reconstruction, rehabilitation, and replacement activities; acquisition of real property or an interest in real property, environmental mitigation, construction contingencies, and acquisition of equipment; capitalized interest necessary to meet market requirements, reasonably required reserve funds, capital issuance expenses, and other carrying costs during construction. |
| Eligibility | Can WIFIA finance operations and maintenance expenses? | No. Per statute, the WIFIA program cannot finance operations and maintenance expenses. |
| Eligibility | Are acquisition of water rights an eligible cost? | Yes. Acquisition of water rights is an eligible cost. |
| Eligibility | Are purchased materials used in self-performed work an eligible cost? | Yes. These are eligible project costs. |
| Eligibility | Are utility costs incurred during construction (i.e., bills from a utility company) eligible project costs? | Yes, as long as the costs can be allocated to the WIFIA project, utility costs are eligible. For example, power and water costs during construction for a greenfield site are eligible project costs. |
| Eligibility | Are internal costs associated with the planning, design, and construction (including utility work, etc.) of the WIFIA project eligible project costs? | Internal costs, including labor costs for in-house staff, are eligible project costs as long as those costs can be allocated to the WIFIA project. Supporting documentation should evidence the allocation of those internal costs specifically to the WIFIA project. |
| Eligibility | Are indirect costs (e.g., multiplier for overhead, indirect expenses, benefits) eligible project costs? Do indirect rates have to be negotiated? | Indirect costs can be considered eligible, but eligibility is determined on a case-by-case basis. |
| Eligibility | Does the WIFIA program reimburse for retainage? | The WIFIA program will only reimburse for retainage at the point that it is released to the contractors. Borrowers should exclude retainage that has not been paid to the contractor. Release to escrow does not constitute release to the contractor, it doesn’t matter where escrow is maintained. |
| Eligibility | Are public information officer services eligible costs for WIFIA reimbursement? | Yes. Public engagement activities associated with a WIFIA project (e.g., holding public meetings, community outreach on impacts) are eligible costs. The borrower should demonstrate that such costs are allocable specifically to the WIFIA project. |
| Eligibility | Do borrowers need to document that their actual costs were only 49 percent of the total eligible costs? | No. The requirement is that the loan cannot be sized greater than 49 percent of reasonably anticipated eligible project costs. Once the loan has been sized on that basis, the requirement has been met. Disbursements are based on actual costs and only the documentation for those costs are required. |
| Eligibility | What is the effect of the actual project costs or disbursements falling below the WIFIA funding minimum? | There are no effects for actual project costs or disbursements falling below the WIFIA funding minimum. The WIFIA program assesses the reasonably anticipated project costs, not the actually incurred or disbursed costs. A project reasonably expected to incur the statutory minimum is eligible regardless of the final amount withdrawn. |
| Eligibility | Can WIFIA fund ancillary project components that are not eligible on their own, if bundled with eligible projects? | The WIFIA program has reviewed loans where ancillary project components are bundled with clearly eligible projects on occasion, but this requires additional information on the ancillary components. Ancillary project components that have been deemed eligible previously include components that are required as a permit condition by another local, state, or federal authority or events where an eligible project destroys other infrastructure that must then be replaced. However, the WIFIA program on its own would never include ancillary requirements to its funded projects as a condition to the WIFIA loan. |
| Eligibility | Which entities are eligible for WIFIA loans? | Local, state, and Tribal government entities; partnerships and joint ventures; corporations and trusts; and state infrastructure financing authorities, commonly known as State Revolving Fund programs are eligible for WIFIA loans. |
| Eligibility | Can WIFIA make an eligibility determination before letter of interest submission? | Yes. The WIFIA program can make a preliminary eligibility determination prior to letter of interest submission. Provide requests in writing, including a short (e.g., 1 page) description of the project to wifia@epa.gov. |
| Environmental Review | When does review under the National Environmental Policy Act occur within the WIFIA process? | EPA makes the decision of when the NEPA review will take place. Generally, the NEPA review takes place during the application stage, up to after a borrower has submitted their WIFIA application. The NEPA process is not required to occur prior to a letter of interest submission. EPA's NEPA review must be completed prior to obligating funds for a loan. |
| Environmental Review | Can borrowers use previous environmental documentation in the WIFIA environmental review process? | Yes. Previous environmental documentation can be used in the WIFIA environmental review process. Existing documentation can often streamline the environmental review. The WIFIA program seeks to use as much existing documentation as possible within the environmental review process. |
| Environmental Review | How does the WIFIA program apply National Environmental Policy Act and environmental requirements to project substitutions or modifications post-close? | Substituted or modified projects that occur within the original footprint included in the environmental analysis would not require a new National Environmental Policy Act determination, and the environmental team would note the updated scope to the file. The WIFIA team would also confirm that environmental consultations would not need to be initiated. For substituted or modified projects that occur outside the original footprint included in the environmental analysis, EPA would need to issue a revised National Environmental Policy Act determination. Environmental consultations would need to be reinitiated. |
| Environmental Review | How early should a borrower request Tribal consultations under section 106? | In most cases, the WIFIA program will complete tribal consultations. This requires the borrower to provide WIFIA with sufficient project documents to determine the scope of impact. It is requested that these documents are given to WIFIA as soon as possible since this consultation and determining the scope of impact will enable other environmental review. When the WIFIA program delegates this responsibility to the borrower, then the borrower should similarly request tribal consultations under section 106 as early as feasible. |
| Environmental Review | Are there constraints for acquiring property prior to EPA’s completion of the National Environmental Policy Act process? | Yes. Land acquisitions or purchases can take place before WIFIA makes a National Environmental Policy Act Determination. However, these purchases or acquisitions that are included as an eligible project within the WIFIA loan must comply with federal land acquisition requirements, such as the Uniform Act. The WIFIA team will review the land purchase or acquisition during the application review process. For more information on how the Uniform Act and National Environmental Policy Act impacts WIFIA borrowers, see: |
| Federal Requirements - Other | If a borrower receives a public records request for a copy of their WIFIA loan agreement, is EPA okay with the borrower providing that to the requestor? Will EPA share the loan agreement with the public? | As a matter of policy, and subject to the Freedom of Information Act, EPA does not share the loan agreement with the public, but EPA does not impose restrictions on borrowers sharing the loan agreement. Borrowers can share the loan agreement as they deem appropriate. There are many existing WIFIA loan agreements available online through existing borrowers' webpages. |
| Federal Requirements - Other | Do federal requirements apply to the whole project, regardless of whether they use non-federal funds or if there are multiple project sponsors? | Yes. The WIFIA program requires compliance on the entire project as defined under the loan agreement, not just the portion that WIFIA is directly disbursing for. |
| Federal Requirements - Other | Do borrowers report expenditures on the annual Schedule of Expenditures of Federal Awards report in the year they are incurred or the year they get WIFIA reimbursement for the expenditures? | Borrowers should report expenditures on their schedule of expenditures of federal awards report in the year the funds were actually disbursed by the WIFIA program. |
| Federal Requirements - Other | Are there signage requirements acknowledging WIFIA funding that borrowers must display at construction sites? | The WIFIA program does not impose signage requirements. However, the program encourages borrowers to use them and appreciates it. If a borrower wishes to use WIFIA's logo, please contact the project's Portfolio Manager for a copy. |
| Interest Rate | How is the interest rate for a loan determined? | By law, the WIFIA interest rate must be equal to or greater than the yield on U.S. Treasury securities of comparable maturity on the date of execution of the credit agreement. The interest rate is locked on the date of execution of the loan. The WIFIA program will estimate the yield on comparable Treasury securities by adding one basis point to the Treasury Direct State and Local Government Services (SLGS) Daily Rate with a maturity that is closest to the weighted average loan life of the WIFIA credit assistance, measured from first disbursement. |
| Interest Rate | Can the WIFIA program adjust interest rates? | The interest rate is set on the day of loan closing and is locked-in over the life of the loan. If interest rates drop after loan closing, borrowers have the ability to do a one-time interest rate reset. This reset is available for loans that have spent less than 50 percent of eligible project costs and have not drawn funds. More information is in the Interest Rate Adjustment Fact Sheet (pdf) |
| Letter of Interest | Can a borrower come in partway through construction? | Yes. However, the borrower must demonstrate retroactive compliance with federal requirements (e.g., Davis-Bacon, American Iron and Steel). Additionally, the loan amount is limited by project costs remaining of the up to 49 percent loan amount (or 80 percent for small borrowers). For example, if a borrower comes in with a $100 million project and completes $55 million of the project before loan closing, instead of being able to receive a loan up to $49 million, the borrower can only receive a loan up to the remaining $45 million of project costs. |
| Letter of Interest | Can borrowers change the letter of interest PDF format? | Changing the letter of interest form requires WIFIA staff to manually input information, which significantly delays the process. Prospective borrowers should submit their letter of interest using the instructions at: How to Apply for WIFIA Assistance . |
| Letter of Interest | When can a prospective borrower submit a letter of interest? | The WIFIA program has funding available on an ongoing basis, and letters of interest may be submitted at any time. A rolling selection process allows EPA to provide year-round access to WIFIA funding and quicker selection decisions to prospective borrowers. In addition, under this iterative, rolling selection process, the WIFIA program can provide technical assistance to prospective borrowers, particularly small communities, that need support to complete their letter of interest package. |
| Letter of Interest | How are projects selected to receive WIFIA loans? | EPA announces the amount of funding it will have available and solicits letters of interest from prospective borrowers in a Notice of Funding Availability published in the Federal Register and on the WIFIA program webpage. In the letter of interest, prospective borrowers provide information that EPA uses to determine the project’s eligibility, creditworthiness, engineering feasibility, and impact on statutory scoring criteria. In addition, the Office of Management and Budget evaluates whether the project complies with budgetary scoring rules. Based on these reviews, EPA selects projects which it intends to fund and invites them to continue to the application process. Information on closed and pending loans is available at: WIFIA Projects. |
| Letter of Interest | Are letters of support from delegates required or recommended in either the letter of interest or application phase? | Letters of support from delegates are not required for public borrowers. For private borrowers, public sponsorship letters are required. More information on public sponsorship can be found in the WIFIA Program Handbook (pdf) |
| Letter of Interest | What do prospective borrowers need to send WIFIA staff to get access to SharePoint to submit a letter of interest? | Prospective borrowers should an email to wifia@epa.gov and provide the name of the contact person who will upload the documents into the SharePoint folder, the contact's email address, name of the borrower and state the borrower is located. |
| Loans | How many days in a month does the WIFIA program calculate for interest purposes? | The WIFIA program assumes a 30-day month when calculating interest. One effect is that the WIFIA program subsidizes a borrower's interest on 31-day months. Another effect is that WIFIA may subsidize costs if the team actually disburses a request for funds on the 15th a few days earlier than the 15th. The WIFIA program has accepted both of these things as a cost of doing business as a borrower-friendly program. |
| Loans | Is there a prepayment penalty? | Borrowers have the option to prepay their WIFIA loans at any time with no penalty. |
| Loans | If a non-WIFIA funded demonstration project is required to fund a full-scale project, can a WIFIA loan subordinate to the demonstration project? | Yes, it is possible to subordinate the demonstration project if it is considered to have independent utility from the final project, representing a standalone "project" for eligibility purposes. |
| Loans | The WIFIA program has a lien position flexibility, but does EPA have a preference on lien position? Are there any limitations with the subordinate debt position? | The WIFIA program is able to issue subordinate debt, which is considered on a case-by-case basis. Such cases will generally be limited to highly rated public agency borrowers with on-going debt issuance programs (such as through a pre-existing indenture) where the WIFIA loan is rated in the A category or higher. Borrowers cannot subordinate the WIFIA loan to other debt for the same WIFIA project. |
| Loans | Does the WIFIA program regularly accept a pledge of real property as collateral for lending? | No. The WIFIA program does not currently have a history of accepting a pledge of real property as collateral for lending. However, if a borrower has special circumstances where a pledge of real property may be relevant, this may be something to discuss further with WIFIA staff. |
| Loans | Does a parity certificate need an Additional Bonds Test calculation? Is a statement with a signature saying that the parity certificate meets the Additional Bonds Test enough? | The parity certificate should have some form of Additional Bonds Test calculation that "evidences" that the parity certificate meets the Additional Bonds Test. A signed statement is not enough. |
| Loans | Can borrowers defer principal and interest? When must loan repayment begin? | Repayment can be deferred for up to five years following substantial completion of the project. Beyond that, the WIFIA program has flexibility to structure repayment to best match the cashflow of the project and the needs of the borrower. The WIFIA program and borrowers will negotiate the repayment schedule for each project, and it will be included in the loan agreement. |
| Loans | What is the maximum amount of time for repayment? | The maximum amount of time for repayment is up to 35 years after substantial completion of the project, or the useful life of the project, whichever is shorter. |
| Loans | Is a borrower required to issue the WIFIA program a bond at loan closing? | Yes. The WIFIA program expects a bond or note to evidence the transaction. |
| Loans | Is there a tax obligation associated with WIFIA funding? | No. Loan proceeds are not taxable. |
| Master Agreement | What is a master agreement? | A master agreement is an umbrella contract between EPA and a borrower that provides an upfront commitment of loan proceeds and a common set of legal and financial terms under which a borrower can close multiple WIFIA loans over time. Master agreements are helpful for borrowers with several projects that are in different phases, have different schedules, or are in different stages of the environmental review process. By evaluating the credit and negotiating the legal framework upfront, the WIFIA program and the borrower can close each loan under a master agreement faster and for lower cost than multiple loans outside of a master agreement. |
| Master Agreement | What are the requirements under a master agreement? | Each loan under a master agreement must individually qualify as a loan. This means there is a $20 million minimum project size (or $5 million for small communities), and the WIFIA funding cannot exceed 49 percent of reasonably anticipated eligible project costs (80 percent for small communities of 25,000 people or less). |
| Master Agreement | Can a borrower submit a master agreement without knowing the final alignment for all parts of the project? | Yes. A borrower can submit a master agreement without knowing the final alignment for all parts of the project. It is important to have a location and reasonable cost estimates for the first loan, but additional loans under the master agreement do not need to be well defined. The WIFIA program will size loans and master agreements with sufficient contingency to allow for cost uncertainty. In addition, the WIFIA team will give flexibility in the amortization profile under each loan, so that the borrower can re-sculpt once costs are finalized, and the debt service profile of the borrower’s other project funding is finalized. Borrowers should discuss specifics with their WIFIA underwriter and transaction team. |
| Master Agreement | Can a borrower pursuing a master agreement change their requested amount for the first loan tranche after they submit a letter of interest if external factors like other co-funders' cause them to revisit their request? | Yes. The WIFIA program can perform an "upsize" on a borrower's original requested loan amount to accommodate related borrowers' preferred funding strategies. Loan upsizes are approved on a case-by-case basis. The usual funding limitations still apply, and the borrower must be able to demonstrate that the requested amount does not exceed the pro-rata share of the project. Please try to identify changes to the funding amount as early as possible. |
| Master Agreement | While filling out application materials for a master agreement, what is the expectation of the level of detail required for Project Information Spreadsheet? Does the WIFIA program want the same level of detail for all projects in the master agreement or just for the project(s) included in the first loan? | If a borrower is looking to pursue a master agreement, then yes, the Project Information Spreadsheet should focus primarily on projects included in the first loan. Borrowers are welcome to include information about projects under a future loan, but it is not expected or required. |
| Master Agreement | In situations where a prospective borrower is unsure of whether a project will need subsequent tranches under a master agreement or be ready to proceed with a single loan, how should they structure their letter of interest? | The prospective borrower can proceed with either approach, based on how likely it is they will proceed in a certain direction. Submitting a letter of interest will not limit a prospective applicant's future choices. The applicant can always move from a master agreement to a single loan or from a single loan to master agreement during the origination process if needed. |
| Master Agreement | If a borrower wants to have a master agreement with multiple loans, should environmental reviews be completed for the projects associated with each loan at the time of loan application submission? | Environmental reviews conducted by WIFIA staff are completed for each loan at the time of its application submission. For a master agreement, loans can close separately under the agreement, so these reviews will occur at the time of each loan's respective application submission. |
| Master Agreement | If a borrower wants to have a master agreement with multiple loans, should they complete environmental questionnaires for projects associated with all loans at the time of application submission? | No. Borrowers only need to complete the environmental questionnaire for the first loan being closed. If the project changes from the first loan, then borrowers should complete a new questionnaire at the time of the following loan application submission. |
| Master Agreement | On the letter of interest, how should a prospective borrower create a sources and uses table where they are requesting a master agreement? | The prospective borrower should only provide the sources and uses for the first anticipated WIFIA loan under the master agreement in the letter of interest. |
| Post-Loan Closing | Can borrowers restructure payment terms after loan closing? | The WIFIA program offers automatic restructuring of amortization and draw schedules if there are changes to project costs, schedule, or funding sources. The borrower's underwriter would be able to evaluate their loan to see whether restructuring would be something they are eligible for and discuss implementation, based on the specifics of the situation. |
| Post-Loan Closing | Does the WIFIA team always conduct site visits? | The WIFIA team can conduct site visits during the construction of the project, but it is not always required. |
| Post-Loan Closing | Can the WIFIA program disburse using a true wire instead of an Automated Clearing House payment? | No. The WIFIA program does not use a true wire to disburse payments. Instead, the WIFIA program disburses using the Automated Clearing House system. |
| Post-Loan Closing | What are the disbursement stages and amounts? | The WIFIA program disburses based on submitted invoices and receipts. This can be done as often as once per month. There isn’t a limit on any individual disbursement amount, though depending on the size of the disbursement, WIFIA will have to give the U.S. Treasury notice between a few days and a week. |
| Post-Loan Closing | How long does it take for the WIFIA program to process disbursements? | The WIFIA program has a 15-day turnaround for disbursement requests. The WIFIA program processes disbursements on the 1st and 15th of every month. |
| Post-Loan Closing | How long do borrowers have to request disbursements? | Borrowers can request disbursements until one year after substantial completion of the project. |
| Post-Loan Closing | Will the WIFIA program share disbursement requests with other governmental entities providing funding? | No. The WIFIA program does not share disbursement requests with other governmental entities providing funding. |
| Post-Loan Closing | Can the WIFIA program disburse on November 15 if the borrower has not paid the annual credit processing fee? | Yes, the WIFIA program can disburse funds to a borrower on November 15 if that borrower does not have past due credit processing fees and has otherwise met all conditions precedent to disbursement. Annual credit processing fees are considered past due beginning on November 16 so the condition precedent to disbursement is considered met as of November 15. |
| Post-Loan Closing | Does the WIFIA program distribute monies to a borrower for Contractor Pay Applications? Or is this distribution a state function? Would a borrower need bridge financing? | The WIFIA program requires invoices that are paid or approved for payment in order to disburse funds. As long as the funds are going to the contractor (not being held in escrow), the WIFIA program can disburse. |
| Post-Loan Closing | Can the WIFIA program provide an exact unpaid principal balance or capitalized interest amount as of a certain date? | No. Because the WIFIA program is a semi-annual computing program, WIFIA can not give borrowers or auditors the precise amounts of unpaid principal balance or capitalized interest as of a specific date unless that date coincides with the end of the loan compounding period. The WIFIA program can only provide exact numbers at the end of compounding periods. |
| Post-Loan Closing | Does EPA require invoices or other supporting documentation to disburse WIFIA funds? | Yes. Each request of disbursement must be accompanied by a signed Form of Requisition and include supporting documentation to ensure that the WIFIA team can evaluate the costs for program eligibility, project allocability, and reasonableness. |
| Post-Loan Closing | What information is required for the construction monitoring reports borrowers must send to the WIFIA program? | Each loan has a construction monitoring report template available. The WIFIA program typically receives construction monitoring reports quarterly. The report usually includes updates for each project component listed in their most recent Project Information Spreadsheet, including cost, schedule, or any material problems that arise. |
| Post-Loan Closing | Are there blackout dates for disbursements? | Disbursements on October 1 (10/1) should be highly discouraged and only made in exceptional circumstances. This is due to the end of the federal fiscal year and how funds are accounted for. |
| Post-Loan Closing | Will EPA require review and approval of change orders? | No. EPA does not require review and approval of change orders, but most loans do require a notice of change orders for a certain amount. Please check the loan agreement for specific requirements. |
| Post-Loan Closing | The loan agreement requires the borrower to furnish a construction progress report signed by the Borrower’s Authorized Representatives. Can someone other than the Authorized Representative sign this report? | No. The signatory must be an authorized representative. However, for the purpose of the periodic construction progress reports ONLY, the borrower may appoint the heads of their engineering and/or construction department as an authorized representative and allow such person or persons to execute the progress reports. The borrower should notify WIFIA of such designations either by email or letter when submitting the progress reports. |
| Post-Loan Closing | Can the WIFIA program share the asset value and par amount outstanding for a loan with auditors? | The WIFIA program does not normally share this information. Please reach out to the borrower directly to request these forms. |
| Post-Loan Closing | If a borrower is demonstrating continuous progress, can the period of performance go longer than 5 years if needed due to project complexity and schedule changes? | The WIFIA program allows borrowers to adjust project completion dates to provide much-needed flexibility in completing large and complex water infrastructure projects. As long as borrowers are diligently making progress to complete their projects, the WIFIA program will work with borrowers to adjust anticipated completion dates. |
| Programmatic | Can a WIFIA loan finance my entire project? | The maximum amount the WIFIA program can fund is 49 percent of eligible project costs (or up to a maximum of 80 percent for small communities of 25,000 people or less). Additionally, federal funds cannot account for more than 80 percent of the project funding. |
| Programmatic | What is the maximum loan amount? | There is not a maximum WIFIA loan amount. |
| Programmatic | What are the WIFIA program office hours and when are they? | The WIFIA program hosts office hours on the second Wednesday of every month. Office hours give prospective borrowers and consultants an opportunity to learn more about the program and ask questions. Interested parties can register for office hours at: WIFIA Monthly Office Hours. Prospective borrowers can also schedule a one-on-one meeting with a member of the WIFIA team by emailing wifia@epa.gov. |
| Programmatic | What is the WIFIA program's mailing address? | The WIFIA program currently uses the mail code 4204M in conjunction with the address: U.S. EPA; 1200 Pennsylvania Avenue, NW; Washington, DC 20460. Please note that if this is for purposes of sending the bond expected at close of a WIFIA loan, the bond should go to the Office of the Chief Financial Officer, which has an address separate from the WIFIA program. |
| Programmatic | What is the WIFIA Program’s Catalog of Federal Domestic Assistance number? | The WIFIA program’s Catalog of Federal Domestic Assistance number is 66.958. |
| Programmatic | What is the Federal Award Identification Number for a WIFIA loan? | The Federal Award Identification Number for a WIFIA loan is the same as the WIFIA Loan ID including the “N” at the beginning. |
| Programmatic | How has funding availability changed over the years? | Funding for the WIFIA program has been stable or increased over the life of the program. |
| Programmatic | Can WIFIA issue grants or principal forgiveness? | No. Per statute, the WIFIA program can only issue loans and loan guarantees. |
| Single Audit Act | Are all borrowers required to conduct a Single Audit? | Borrowers are required to conduct an audit if they expend $1,000,000 or more per year in Federal awards. If that is the case, borrowers have two options: single or program-specific audits. |
| Single Audit Act | Does the WIFIA program collect Single Audits? | Single audits are not collected by the WIFIA program. Borrowers are responsible for submitting single audits to the Federal Audit Clearinghouse. |
| Single Audit Act | Can the WIFIA program provide guidance and clarification on policies and procedures related to the Single Audit Act? | No. The WIFIA program cannot provide interpretation related to the Single Audit Act. Please contact the EPA Single Audit Coordinators at EPA's Office of Grants and Debarment for questions: Email: OMS-OGD-Single_Audits@epa.gov |