Infrastructure loan to help repair ageing sewer and pipe network
The US Environmental Protection Agency (EPA) has announced a $16 million (€14.7 million) Water Infrastructure Finance and Innovation Act (WIFIA) loan to sewer repairs and water main replacement projects.
This WIFIA loan will help the City of Cortland, New York, to protect public health and the environment by providing safe drinking water and dependable wastewater services.
“Through WIFIA, EPA is playing a key role in President Trump’s efforts to improve and upgrade our nation’s water infrastructure and support communities both large and small,” said EPA administrator Andrew Wheeler.
“With this loan closing, EPA has now issued 20 WIFIA loans totalling $4.2 billion (€3.8 billlion) in credit assistance to help finance $9.4 billion (€8.7 billion) for water infrastructure projects while creating 19,000 jobs.”
The project will replace aged water mains, sanitary sewers and storm drainage with a new water main, services, hydrants and valves.
The purpose of this project is to replace the existing infrastructure, which has exceeded its useful life.
The existing water mains and sewer systems have been in place for over 100 years and are at risk of failure due to age and use. The project will provide proper water and sewer main separation, reduce treatment costs for water and wastewater and improve public health and environmental protections.
“We thank the EPA for extending the WIFIA program to a city our size,” said Mayor Brian Tobin. “EPA’s participation opened a door for the City of Cortland to reconstruct its infrastructure, revitalise its commercial base and improved the quality of services rendered to our residents that the City would not be able to do on its own.”
This WIFIA loan will help the City of Cortland, New York, to protect public health and the environment by providing safe drinking water and dependable wastewater services.
“Through WIFIA, EPA is playing a key role in President Trump’s efforts to improve and upgrade our nation’s water infrastructure and support communities both large and small,” said EPA administrator Andrew Wheeler.
“With this loan closing, EPA has now issued 20 WIFIA loans totalling $4.2 billion (€3.8 billlion) in credit assistance to help finance $9.4 billion (€8.7 billion) for water infrastructure projects while creating 19,000 jobs.”
The project will replace aged water mains, sanitary sewers and storm drainage with a new water main, services, hydrants and valves.
The purpose of this project is to replace the existing infrastructure, which has exceeded its useful life.
The existing water mains and sewer systems have been in place for over 100 years and are at risk of failure due to age and use. The project will provide proper water and sewer main separation, reduce treatment costs for water and wastewater and improve public health and environmental protections.
“We thank the EPA for extending the WIFIA program to a city our size,” said Mayor Brian Tobin. “EPA’s participation opened a door for the City of Cortland to reconstruct its infrastructure, revitalise its commercial base and improved the quality of services rendered to our residents that the City would not be able to do on its own.”
