The Water Infrastructure Finance Authority of Arizona (WIFA) announced today that it had closed a $3,612,500 30-year CWSRF loan with the town of Clifton. The recently closed loan carries a 1.764% interest rate and features 50% ($1,806,250) Principal Forgiveness. WIFA is also providing an additional $20,000 in Technical Assistance from the Southeastern Arizona Governments Organization (SEAGO) to help with compliance and regulatory requirements.
The project includes upgrades and improvements to the Town's Wastewater Treatment Plant (WWTP), located at 780 South Coronado Boulevard. This project will construct a new wastewater treatment system and rehabilitate existing WWTP components to bring the facility back into operation and compliance with the Arizona Department of Environmental Quality.
WIFA is a governmental organization dedicated to protecting public health and promoting environmental quality through financial assistance for water and wastewater infrastructure. WIFA is Arizona's administrator of the Cleanwater and Drinking Water State Revolving Funds (CWSRF and DWSRF) and provides funding for drinking water, wastewater, and stormwater projects. The SRF programs function like infrastructure banks by providing low-interest loans to eligible recipients for drinking water and clean water infrastructure projects. Over the last 30 years, WIFA has proudly invested over $2 billion in Arizona's communities.
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