WIFA Closes Two Loans totaling, $14,863,214 with the City of Nogales
On January 22nd, 2021, the Water Infrastructure Finance Authority and the City of Nogales closed their Clean Water State Revolving Fund (CWSRF) and Drinking Water State Revolving Fund (DWSRF) loans. Both of the SRF loans have a 20-year repayment term and a 1.756% interest rate. The DWSRF loan is for $10,569,564 with $1,532,500 in forgivable principal and the CWSRF loan is for $4,293,650 with $950,000 in forgivable principal.
Drinking Water Project- Water System Improvements
The loan will be used to finance the design and construction of water system upgrades which includes the replacement of existing water mains totaling 66,018 linear feet, installation of associated appurtenances, and the replacement of a water storage tank. The replacement of old, undersized and leaking water lines as well as a water tank will allow the system to meet ADEQ approved standards, improve the efficiency of the system through the reduction of water loss, and reduce maintenance costs.
Clean Water Project – Wastewater System Improvements
The loan will fund wastewater system improvements to the City's existing collection system and WWTP which includes the replacement of existing sewer mains totaling 18,080 linear feet, replacement of an existing lift station, rehabilitation of two sewer spots, and equipment upgrades at an existing lift station and Kino Springs WWTP. The improvements will significantly reduce repair and maintenance costs, reduce risks of sewer spills and mitigate environmental impacts.
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 Clean water 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