The Water Infrastructure Finance Authority of Arizona (WIFA) announced today that it had closed a $161,500 20-year DWSRF loan with Walnut Creek Water Company. The loan carries a 2.614% interest rate and features $137,275 in Principal Forgiveness.
This loan will fund the repair and refurbishment of two water storage tanks (290,000 gallons and 65,000 gallons) to stop water loss due to leakage and replace all customer water meters with touch read meters to make the meter reading process easier and more accurate.
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 $3 billion in Arizona's communities.