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Diversion Authority reports $42 million in legacy draws; readies WIFIA submission and 2027 bond plan
Summary
The Diversion Authority Finance Committee reported $42 million in legacy fund draws to date, noted low year-to-date project spending, and discussed internal preparations for WIFIA loan draws and a pair of 2027 bonds to finish project financing.
At its May 21, 2025, meeting the Diversion Authority Finance Committee reviewed recent cash flows and financial planning for the diversion project, reporting just over $42 million in legacy fund draws to date and internal preparations for federal WIFIA loan submissions and end-of-project bonding in 2027.
The committee was told the authority received $22 million in legacy fund draws during the past month, bringing total legacy draws to just over $42,000,000 and leaving roughly $45,000,000 available for drawdown this year; staff said that once the legacy draws reach about…
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