Finance & Funding
The infrastructure of the Grand Prairie Water Commission is being designed to maximize the economies of scale, share common risk, provide benefit to all communities equally, and obtain the advantages of the latest technologies and materials. Total Commission costs for implementation of the Alternative Water Source Program are expected to be nearly $1.45 billion by its completion in 2030.
FUNDING STRATEGY
The funding strategy for the Grand Prairie Water Commission is to finance infrastructure assets with a combination of revenue bonds, and state and federal low-interest loans that are only available to projects of this magnitude.
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The Water Infrastructure Finance and Innovation Act of 2014 (WIFIA) established the WIFIA program, a federal credit program administered by EPA for eligible water and wastewater infrastructure projects. WIFIA provides federal low-interest loans for large water projects. State Revolving Fund (SRF) is a state low interest loan program administered by the Illinois Environmental Protection Agency (IEPA).
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The communities are actively pursuing all available grant opportunities to offset costs to water customers.
