The Water Infrastructure Finance Authority of Arizona (WIFA) announced today that it had closed a $13,250,000 30-year DWSRF loan with the Town of Queen Creek. The recently closed loan carries a 1.874% interest rate and features $442,500 in Principal Forgiveness. WIFA is also providing up to $50,000 in Technical Assistance funds for professional services to cover the cost of the Environmental Assessment that had been completed before the loan was executed. 

Project Description

The purpose of the project is to improve the reliability and quality of the available potable water supply for the Town of Queen Creek and Diversified Water Utilities, Inc service areas by merging the two water systems into one. A combined system will provide stability to the service areas as it leverages the physical resources of both systems to provide redundancy in the event of infrastructure failure or repair.   

About WIFA

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.

WIFA Media Contact:

This email address is being protected from spambots. You need JavaScript enabled to view it., Communications Director | P: (602) 364.1326