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