By Roland Murphy for Arizona Builder’s Exchange
Gov. Doug Ducey has proclaimed October 5-9 as the Value of Water Week in support of the Value of Water Coalition’s “Imagine a Day Without Water Campaign.”
As part of the week’s observations, the Water Infrastructure Finance Authority of Arizona is taking steps to encourage water-related development projects and boost awareness of water issues around the state.
WIFA finances water and wastewater infrastructure projects at below market rates. To be considered for financial assistance, cites, town, private water companies and special water districts submit an application, which the authority then reviews and scores the request’s merit.
Afterward, the applicant obtains debt authorization and completes a project finance application. The project is reviewed by WIFA’s board of directors and, if approved, a loan is issued.
On Oct.1, WIFA announced the closing of a $915K loan for the Buckskin Sanitary District along the Colorado River new Parker to address septic system and water quality concerns. The three-year design loan will enable the district to develop plans to expand collection and treatment services, ultimately moving more than 1,700 people from failing individual septic systems to sewer service.
To date WIFA has financed nearly $4.3M in loans to the area for expanded wastewater services.
In August, WIFA announced the closing of a $550K loan to the City of Somerton to enable the city to acquire a water company’s system and facilities in an unincorporated area of Yuma County for infrastructure improvements to the area’s drinking water.
WIFA has also created the Water Rates Report and Dashboard, a financial benchmarking tool to help utilities and community leaders effectively price water solutions and communicate with stakeholders about water rates and the importance of infrastructure investment.
WIFA is promoting the dashboard and related information as part of is Value of Water Week efforts.