Corps Water Infrastructure Financing Program (CWIFP)

CWIFP enables local investment in critical non-Federal dam safety projects that enhance community resilience to flooding, promote economic prosperity, and improve environmental quality by providing long-term low-cost credit assistance to non-Federal

The Corps Water Infrastructure Program(CWIFP) provides long-term, low-cost credit assistance for water resource infrastructure projects (currently limited to dam safety projects that are non-federally owned, operated, and maintained). The program provides funding of up to 49% of project costs, or up to 80% of project costs for projects that serve economically disadvantaged communities. Eligible borrowers include: local, state, tribal, government entities, partnerships and joint ventures, corporations and trusts, and clean water and drinking water state infrastructure financing authorities.

To be eligible for CWIFP credit assistance, a prospective borrower must be at least one of the following: A corporation A partnership A joint venture A trust A State or local governmental entity, agency, or instrumentality A tribal government or consortium of tribal governments A State infrastructure financing authority

A project, submitted by an eligible borrower, must have costs reasonably anticipated to be at least $20 million and must fall under one of the following three categories per the WIFIA authorization: 1) Any project for flood damage reduction, hurricane and storm damage reduction, environmental restoration, coastal or inland harbor navigation improvement, or inland and intracoastal waterways navigation improvement that the Secretary determines is technically sound, economically justified, and environmentally acceptable, including: a) A project to reduce flood damage; b) A project to restore aquatic ecosystems; c) A project to improve the inland and intracoastal waterways navigation system of the United States; and d) A project to improve navigation of a coastal inland harbor of the United States, including channel deepening and construction of associated general navigation features. 2) Acquisition of real property or an interest in real property. The acquisition must either be integral to the project or would mitigate the environmental impacts of water resources infrastructure projects otherwise eligible for CWIFP credit assistance. 3) A combination of projects described in paragraphs 1 and 2, above, secured by a common security pledge, each of which is eligible for CWIFP credit assistance, for which an eligible entity, or a combination of eligible entities, submits a single application.

A project, submitted by an eligible borrower, must have costs reasonably anticipated to be at least $20 million and must fall under one of the following three categories per the WIFIA authorization: 1) Any project for flood damage reduction, hurricane and storm damage reduction, environmental restoration, coastal or inland harbor navigation improvement, or inland and intracoastal waterways navigation improvement that the Secretary determines is technically sound, economically justified, and environmentally acceptable, including: a) A project to reduce flood damage; b) A project to restore aquatic ecosystems; c) A project to improve the inland and intracoastal waterways navigation system of the United States; and d) A project to improve navigation of a coastal inland harbor of the United States, including channel deepening and construction of associated general navigation features. 2) Acquisition of real property or an interest in real property. The acquisition must either be integral to the project or would mitigate the environmental impacts of water resources infrastructure projects otherwise eligible for CWIFP credit assistance. 3) A combination of projects described in paragraphs 1 and 2, above, secured by a common security pledge, each of which is eligible for CWIFP credit assistance, for which an eligible entity, or a combination of eligible entities, submits a single application.

Typically, USACE expects projects to be completed within 7 years after closing. Disbursement schedules will be negotiated prior to closing of a loan. Loan repayment can be deferred up to five years. Loan repayment can be deferred up to five years following substantial completion of the project. Beyond that, USACE has flexibility to structure repayment to best match the cashflow of the project in question. USACE and prospective borrowers will negotiate the repayment schedule for each project, and it will be included in the credit agreement.

Additional information may be found at: www.usace.army.mil/CWIFP

Selection criteria will be outlined in the NOFA.

Applying for financing through CWIFP is a two-step process: Preliminary Application: Borrowers will need to submit a preliminary application. After reviewing preliminary application submissions, USACE will invite projects that are reasonably anticipated to meet the eligibility requirements and for which CWIFP has sufficient budget authority to apply to the full application. Full Application: Once invited to apply, applicants will have one year (365 days) to complete and submit a full application. The applicant will receive funding after closing of the loan consistent with the terms of the loan agreement and disbursement schedule.

Once preliminary applications are received, USACE will take up to 90 days to evaluate the applications and invite selected applicants to submit full applications. Applicants will then have 365 days to submit a full application. Upon receipt of the full application, USACE will work with the applicant to expeditiously as possible move towards issuance of a loan.

Borrowers can submit another preliminary application for additional funding requests, and can reach out to the CWIFP team for help with specific questions at cwifp@usace.army.mil.

After a prospective borrower receives a written notification that their project is not eligible under the WIFIA statute, the prospective borrower may respond with a written dispute to the program. The written dispute must be received within fifteen days of CWIFP's notification. The written dispute must include a detailed statement of the legal and/or factual basis for the dispute, the remedy that the prospective borrower is seeking, information on how to communicate with the prospective borrower, and any documentation relevant to the dispute.