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Hayward approves $244 million WIFIA loan authorization for wastewater plant upgrades
Summary
City Council unanimously authorized a Water Infrastructure Finance and Innovation Act (WIFIA) loan agreement to help finance up to $244.1 million of the city's planned $498 million wastewater resource recovery improvements required by the Regional Water Board; council members and staff described the loan structure and contingencies.
The Hayward City Council on April 1 adopted a resolution authorizing the city manager to execute a Water Infrastructure Finance and Innovation Act (WIFIA) loan agreement with the U.S. Environmental Protection Agency for a maximum principal amount of $244,139,000 to finance part of the city's Water Resource Recovery Facility upgrades.
Public Works Director Alex Amiri told the council the upgrades are required by the California Regional Water Quality Control Board's nutrient-reduction mandate and that total project costs are estimated at $498 million. Amiri said the city has assembled a financing plan that…
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