PROGRAM FEATURES
- Funding of up to 49% of project costs, up to 80% of project costs, in some cases
- Big impact to infrastructure with low cost and risk to taxpayers
- Available to individual projects or a group of projects with eligible costs in excess of $20 million
- Long-term, low-cost credit assistance for water resource infrastructure projects
- Accelerates construction
- Local control and ownership of project is maintained
LOAN TERM BENEFITS
- Low, fixed interest rates near U.S. Treasury rates
- Interest accrues only once funds have been disbursed
- Customized repayment schedules
- Long repayment periods (up to 35 years after completion)
- Deferred payments during construction and up to 5 years after completion
- No prepayment penalties
ELIGIBILITY REQUIREMENTS
- Projects must be non-Federally owned, operated, and maintained
- Projects must be:
- dam safety project(s) to maintain, upgrade and repair dam(s) identified in the National Inventory of Dams