16851_Authority_Aug_2023

54 The Authority | AUGUST 2023 Continued from page 45. With the signing of the Infrastructure Investment and Jobs Act (IIJA), also commonly known as the Bipartisan In- frastructure Law, the law’s investment in the water sector is transformational for the next five years. Significant additional funding is being directed through the SRF administered by PEN- NVEST to not only support traditional projects but also focuses on lead line removal as well as addressing emerg- ing contaminates like polyfluoroalkyl substances (PFAS). EPA has been administering The Water Infrastructure Financing and Innovation Act of 2014 (WIFIA) which establishes the WIFA program, a federal credit program for eligible water and wastewater infrastructure projects. The program provides long- term, low-cost supplemental loans for 49% of eligible project costs at United States Treasury rates. There is no maximum amount that can be borrowed, howev- er, the program is limited by appro- priated controls. It’s unlikely that a single request for credit assistance would exceed the appropriated controls on EPA’s lending. PENNVEST is positioned to leverage the federal WIFIA program to facilitate the imple- mentation of projects and can serve as the 51% match for communities. With emerging issues like PFAS, lead line removal, regulatory compliance for MS4, repair and replacement of drinking water and wastewater infra- structure that has met or exceeded is useful life, addressing non-point source through implementation of agriculture best management practices, PENNVEST is positioned to support the financing of your next clean water project. The single most important thing a po- tential applicant can do is contact a regional PENNVEST Project Specialist to discuss potential projects. The Pro- ject Specialist will provide assistance to assure a seamless application pro- cess to access PENNVEST financing. Information on PENNVEST funding programs, application cutoff and Board Meeting dates, and region- al contacts can be found at www. pennvest.pa.gov, or contact Robert H. Boos, Executive Director at rboos@ pa.gov or 717-783-4493. S