Application Process Overview
The WIFIA application process is three phases.
Phase 1: Project Selection: EPA announces the amount of funding it will have available and solicits letters of interest from prospective borrowers. In the letter of interest, prospective borrowers demonstrate their projects eligibility, financial creditworthiness, engineering feasibility, and alignment with EPA’s policy priorities. Based on this information, EPA selects projects which it intends to fund and invites them to continue to the application process.
Phase 2: Project Approval: Each invitee must apply for WIFIA credit assistance. Using this information, the WIFIA program conducts a detailed financial and engineering review of the project. Based on that review, the WIFIA program proposes terms and conditions for the project and negotiates them with the applicant until they develop a mutually agreeable term sheet. The Administrator demonstrates project approval by executing the project’s term sheet.
Phase 3: Negotiation and Closing: Based on the term sheet, the WIFIA program finalizes the terms of credit assistance to the applicant. At closing, the Administrator (or his designee) and the prospective borrower execute the credit agreement, which is the binding legal document that allows the borrower to receive WIFIA funds.
For more details on the application process, see the WIFIA Program Handbook below.
Notice of Funding Availability
In response to its FY 2017 Notice of Funding Availability (NOFA), the WIFIA program received 43 letters of interest from prospective borrowers for water infrastructure projects across the country and invited 12 entities to apply for WIFIA loans.
In the Further Continuing and Security Assistance Appropriations Act, 2017, P.L. 114-254 (PDF) (28 pp, 261 K, About PDF), signed by the President on December 10, 2016, Congress provided $17 million in budget authority for the WIFIA program. Additionally, Congress appropriated $8 million in budget authority for the WIFIA program in the Consolidated Appropriations Act, 2017, P.L. 115-31, signed by the President on May 5, 2017. This funding covers the federal government’s anticipated cost of providing a much larger amount of credit assistance. EPA will make the combined amount of funding available to the 12 selected entities. Together, they are invited to apply for $2.3 billion in WIFIA loans to help finance $5.1 billion in water infrastructure investments.
Application Materials and Resources
Prospective borrowers must submit a letter of interest for their project to the WIFIA program. In the letter of interest, the prospective borrower provides information to demonstrate its projects eligibility, financial creditworthiness, engineering feasibility, and alignment with EPA’s policy priorities. If EPA selects the projects, then the prospective borrower is invited to submit an application. EPA will only select projects that it expects might reasonably proceed to closing.
WIFIA Program Handbook
WIFIA Letter of Interest Form
- WIFIA Letter of Interest (WORD)(20 pp, 81 K)