The Water Infrastructure Finance Authority of Arizona (WIFA) announced today that it had closed a $8,880,000 20-year DWSRF loan with the Town of Florence. The loan carries a 1.764% interest rate and features $1,420,500 in Principal Forgiveness.

Project Description

The loan will fund several water system improvements which includes; implementing Advanced Metering Infrastructure (AMI) by replacing approximately 3,600 existing positive displacement meters with magnetic flow meters and automatic read radio equipment, design and construction of a backup well and storage tank, design and construction of a new water transmission main from the proposed backup well and storage tank locations to the Town’s existing well site, and drilling a new well at an existing well site that is currently out of production due to nitrate exceedances.​ The AMI project will provide operational efficiency and reduce costs through reliable interval data from water meter reads for; right-sizing programs, prompt notification of leaks, tampering, and theft, and the additional water production well and storage tank will provide a secondary source of water and add redundancy to the water system.

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