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City to apply for WIFIA loan to fund water/wastewater CIP; staff says flexible federal loan could reduce long-term costs
Summary
City staff said Feb. 18 they will apply for a U.S. EPA WIFIA loan of up to $770,970,583.07 to help finance major water and wastewater capital projects, and told council the program’s flexible drawdown and repayment terms could reduce long-term financing costs.
Denton’s water utilities leadership told City Council Feb. 18 they will apply for a multi-hundred-million-dollar Water Infrastructure Finance and Innovation Act (WIFIA) loan from the U.S. Environmental Protection Agency to help finance the city’s five-year water and wastewater capital improvement plan.
Stephen Gay, general manager of Water Utilities and Street Operations, said the city intends to seek up to $770,970,583.07 under the WIFIA program. The phase-one portion of the application would fund major projects including the Pecan Creek treatment-plant expansion, Clear Creek and Ray Roberts treatment projects, and major distribution and collection upgrades; a second…
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