Two Coachella Valley Water District (CVWD) stormwater projects have been selected to receive Environmental Protection Agency (EPA) federal loans through the Water Infrastructure Finance and Innovation Act (WIFIA).
CVWD’s two projects were part of a total of 39 projects selected nationally in the highly competitive process. The selected borrowers will receive WIFIA loans totaling up to $5 billion to help finance over $10 billion in water infrastructure investments and create up to 155,000 jobs.
The EPA selected CVWD’s Coachella Valley Stormwater Channel Improvement Project for an approximately $22 million loan. The project involves improvements to reduce flood risk to the surrounding areas and bring the channel up to Federal Emergency Management Agency (FEMA) and CVWD design standards. The project will provide protection to life and property during 100-year flood events and ensure the reliability of Coachella Valley’s stormwater protection system.
The EPA selected CVWD’s North Indio Flood Control Project for a nearly $29 million loan. This project will design and construct a regional flood conveyance channel to convey stormwater flows from Sun City Palm Desert development to the Sun City Shadow Hills development, which ultimately connects to the Coachella Valley Stormwater Channel. This project will reduce flood risk to nearby communities and remove flood insurance requirements for residents in the area.
“Both of these projects are part of our ongoing commitment to reducing flood risk in the Coachella Valley to protect both life and property,” said Jim Barrett, general manager of CVWD. “These loans will allow us to move forward as quickly as possible with this important work.”
Established by the Water Infrastructure Finance and Innovation Act of 2014, the WIFIA federal loan and guarantee program aims to accelerate investment in the nation’s water infrastructure by providing long-term, low-cost supplemental loans for regionally and nationally significant projects. Both loans are contingent on a final review process by the EPA.
The Coachella Valley Water District is a public agency governed by a five-member board of directors. The district provides domestic and irrigation water, agricultural drainage, wastewater treatment and reclamation services, regional storm water protection, groundwater management and water conservation. It serves approximately 108,000 residential and business customers across 1,000 square miles, located primarily in Riverside County, but also in portions of Imperial and San Diego counties.
