A look at two funding agencies
As a public benefit corporation with over $12 billion in assets, EFC is New York State’s investment bank for the financing of municipal water projects, according to EFC’s Matthew Driscoll.
Inlet is one of the more than 2,000 infrastructure projects that have shared in nearly $15 billion in financing from EFC, he said.
According to Driscoll, EFC manages the largest and one of the most successful State Revolving Fund (SRF) programs in the nation. EFC’s management and investment strategy for its SRFs was praised last year by the Environmental Financing Advisory Board of the U.S. Environmental Protection Agency.
Based on the EPA report, the Center for American Progress called on other states to follow New York’s success in multiplying the funds available for the construction of drinking water and wastewater infrastructure.
USDA contributions were made possible through their Water and Environmental Programs (WEP).
WEP provides loans, grants and loan guarantees for drinking water, sanitary sewer, solid waste and storm drainage facilities in rural areas and cities and towns of 10,000 or less.
Public bodies, non-profit organizations and recognized Indian tribes may qualify for assistance.
In addition, WEP awards grants to nonprofit organizations to provide technical assistance and training in order to assist rural communities with their water, wastewater, and solid waste issues.
USDA, through its Rural Development mission area, has an active portfolio of more than $170 billion in loans and loan guarantees.
These programs are designed to improve the economic stability of rural communities, businesses, residents, farmers and ranchers and improve the quality of life in rural America.
