CS21C - Concurrent Session 21C: The Corps Water Infrastructure Financing Program - A Solution to Making Water Infrastructure Affordable

The US Army Corps of Engineers is offering a new Federal loan program for non-federal dam owners. The Corps Water Infrastructure Financing Program (CWIFP) is a Federal loan program administered by the Corps that provides low-cost, long-term loans for maintaining, upgrading and repairing dams for any non-Federal borrowers. The program is open to projects, or bundles of projects that have a total cost of $20M or more. The program will be overseen by a new organization within the Corps that is under the direction of Corps headquarters.

$7.5B+ is available and the program’s first call for funding requests from prospective applicants is expected in Spring 2023.

Borrowers can realize savings of more than 20% over other financing options. Here are some of the benefits of using CWIFP over other financing options:

• Low Interest
• Consolidation of multiple projects into one loan
• Financing previously incurred costs for planning and design
• Long-term amortization (up to 35 years following construction)
• Flexible repayment terms with the opportunity for capitalized interest
• Sculpted principal repayment