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Board hears WIFIA loan overview; no immediate action required
Summary
The board discussed the EPA's WIFIA loan program and a possible capital-stacking approach; President Rockenbach said there is no action required now and staff will return with a report before any application is submitted.
President Rockenbach briefed directors on the Environmental Protection Agency's WIFIA loan program as a potential financing tool for capital projects, explaining program features and how a master agreement can allow capital stacking. "There's no action needed by the board at this time," Rockenbach said, adding that staff will present a formal report before any applications are filed.
He outlined two WIFIA components: project-specific loans (with typical multi-year completion windows) and a master agreement that could support stacking loans under a broader financing strategy. Directors asked clarifying questions and were told staff will bring a report and any required board actions later in the process.
