RCAC presents funding options for rural water and environmental projects

The California Financing Coordinating Committee (CFCC) Funding Fair, held on May 21, 2025, focused on providing essential financial resources and technical assistance for water and environmental projects in rural communities. The event, organized by the State Water Resources Control Board, highlighted the importance of ensuring safe drinking water and supporting disadvantaged communities.

During the meeting, representatives from the Rural Community Assistance Corporation (RCAC) discussed their role in offering on-site training for operators and administrators to enhance water safety. They also emphasized the significance of conducting median household income surveys to determine eligibility for state and federal assistance for disadvantaged communities. RCAC provides loans specifically for environmental projects, targeting rural areas with populations under 50,000 that primarily serve low-income communities.

Key financing options were presented, including examples of successful projects funded by RCAC. One notable case involved a public utility district that received $10.66 million in grant funding to upgrade an aging wastewater treatment plant. To address cash flow challenges, RCAC offered a bridge loan to ensure timely payments to contractors while awaiting state reimbursement.

Another example highlighted a municipal water district that expanded its storage capacity with a $402,000 loan, featuring a six-month interest-only period followed by a nine-and-a-half-year repayment plan. Additionally, a loan was provided for a district to purchase land for a new well, accommodating a growing population transitioning from seasonal to year-round residents.

The meeting concluded with an invitation for attendees to engage with loan officers during breakout sessions for further inquiries about eligibility and financing options. The CFCC Funding Fair underscored the commitment to enhancing water infrastructure and supporting rural communities in California.