The US 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 invitation amount for 2020 to nearly $7 billion (5.8 million) to help finance over $18 billion (15 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 the funding.
The Pacheco Reservoir Expansion Project for Santa Clara Valley Water District will receive a $693 million (€579 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.
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