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Authority reports $105.6 million WIFIA draw; loan carries ~2.008% interest
Summary
General counsel told the board the most recent WIFIA draw request is $105,600,000 and that the loan is roughly a 40‑year term at an interest rate of 2.008%. The update framed WIFIA draws as an integral part of project financing.
The Metro Flood Diversion Authority reported a large WIFIA draw during its July 23 meeting. "The most recent draw request is for $105,600,000," General Counsel John Shockley told the board, adding the loan is structured for approximately 40 years at an interest rate of 2.008%.
Shockley said staff will continue to provide monthly updates on draws because WIFIA financing is an integral part of the project cash‑flow plan. The briefing was presented as part of the general counsel's updates and drew no further questions from the board.
The board did not take separate action on the draw at the meeting; Shockley described it as an informational update and invited questions about the WIFIA program.
