The Water Infrastructure Finance Authority of Arizona (WIFA) announced today that it had closed a $270,000 20-year DWSRF loan with the Rim Trail Domestic Water Improvement District (DWID). The loan carries a 1.739%** interest rate and features $212,500 in Principal Forgiveness.
The DWID will be making necessary improvements for the water system including: replacing approximately 1,000 feet of failing waterline, rehabilitating a leaking 35,000 gallon water tank, replacing a 10,000 gallon water tank, and installing automated meter readers throughout the system.
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.