The newly formed Water Finance Exchange (WFX) in partnership with Rural Community Assistance Corporation, Rural Community Assistance Partnership and CoBank has established a rural community predevelopment fund.
The House recently approved a bill that would amend the Safe Drinking Water Act (SDWA) to include an additional $22.5 billion for water infrastructure. The HR 2 “Moving Forward Act” would distribute funds annually at $4.5 billion per year until 2025.
Although Congress and the White House have assured Americans of a plan to invest in drinking water pipes and sewage treatment plants, both rural and urban communities are for now relying on existing loans and grants. Meanwhile, drinking water costs are rising, albeit incrementally.
West Sacramento, Calif. — Rural Community Assistance Corporation (RCAC)’s Loan Fund received a $1 million 30-year low-interest loan from the U.S. Department of Agriculture Rural Development. This loan, made through the department’s Intermediary Relending Program (IRP), will ensure that RCAC helps small high-need communities address their essential infrastructure needs.
Although California has spent only $1 billion of the $7.5 billion included in the Proposition 1 water bond passed in 2014, the state’s voters this year will consider whether to allocate another $13 billion toward water conservation and usage. One of those, Proposition 68, is a $4.1 billion bond measure …