The Water Infrastructure Finance Authority of Arizona (WIFA) announced today that it had closed a $1,770,000 30-year CWSRF loan with the Town of Huachuca City. The loan carries a 1.739% interest rate and features $531,000 in Principal Forgiveness.
The Town will Clean Close their wastewater lagoon system which will resolve the facility’s Aquifer Protection Permit violation and protect the Babocomari River and the San Pedro River from potentially being polluted by the sludge in the ponds.
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.