April 4, 2023
NASHVILLE, Tenn. (April 4, 2023) – Today, the U.S. Environmental Protection Agency (EPA) announced over $10,897,000 from the 2023 Consolidated Appropriations Act for states, Tribes, and territories through this year’s Clean Water State Revolving Funds (CWSRF) in the state of Tennessee. The funding will help communities upgrade essential wastewater and stormwater systems to protect public health and treasured water bodies across the nation.
“Too many communities across the country are facing challenges with water infrastructure – from climate impacts like drought vulnerability, to a lack of basic wastewater services that everyone deserves,” said EPA Administrator Michael S. Regan. “President Biden’s Investing in America Agenda is getting unprecedented investments in clean water to communities that need them most. This funding paired with this historic funding from the Bipartisan Infrastructure Law will support local economies while advancing projects in communities to help ensure clean, safe water for residents.”
“The Bipartisan Infrastructure Law has created a historic opportunity to correct longstanding environmental and economic injustices in underserved communities,” said EPA Region 4 Administrator Daniel Blackman. “The Clean Water State Revolving Funds can create a powerful, innovative financing solution for major storm and wastewater infrastructure projects in the Southeast region.”
Administrator Regan announced the funding as part of a $775 million investment on the Biden-Harris Administration’s Investing in America tour in Clayton, North Carolina with Congressman Wiley Nickel, highlighting the President’s historic funding for water infrastructure upgrades. President Biden’s Investing in America agenda is growing the American economy from the bottom up and middle-out – from rebuilding our nation’s infrastructure, to creating a manufacturing and innovation boom powered by good-paying jobs that don’t require a four-year degree, to building a clean-energy economy that will combat climate change and make our communities more resilient.
Today’s announcement builds on the second wave of $2.4 billion EPA announced for clean water infrastructure upgrades through President Biden’s Bipartisan Infrastructure Law in February. Over $3.2 billion will be provided to the CWSRF when combined with Fiscal Year 2023 funding available through the Bipartisan Infrastructure Law. This investment reflects the Biden Administration’s commitment to strengthening the nation’s wastewater and stormwater systems, while providing significant resources for mitigating nonpoint source pollution and improving energy and water efficiency. It also addresses key challenges, including climate change and emerging contaminants like per- and poly-fluoroalkyl substances (PFAS).
See the state-by-state allocation of 2023 CWSRF funding.
See a breakdown of EPA CWSRF funding available through the Bipartisan Infrastructure Law.
Background
The CWSRFs have been the foundation of water infrastructure investments for more than 30 years, providing low-cost financing for local projects across America. Under the Clean Water programs, EPA provides funding to all 50 states and Puerto Rico to capitalize on SRF loan programs. For the base programs, the states and Puerto Rico contribute an additional 20 percent to match the federal grants. The 51 SRF programs function like infrastructure banks by providing low-interest loans to eligible recipients for clean water infrastructure projects. As the loan principal and interest are repaid over time, it allows the state’s CWSRF to be recycled or “revolve.” As money is returned to the state’s revolving loan fund, the state makes new loans to other eligible recipients. These funds can also be combined with Bipartisan Infrastructure Law funding and EPA’s Water Infrastructure and Finance Innovation Act (WIFIA) loans to create a powerful, innovative financing solution for major infrastructure projects.
[ad_2]
Originally Appeared Here