TFG's Mark Limbaugh Highlights Benefits of WIFIA, Federally-Backed Financing at ACWA Conference

MONTEREY, Calif., May 8, 2019 /PRNewswire/ -- Mark Limbaugh, President of The Ferguson Group and a nationally-recognized leader on water and natural resources federal policies and regulations, today said federally-backed financing for water infrastructure, such as the Environmental Protection Agency's Water Infrastructure Finance and Innovation Act (WIFIA) program, provides significant benefits to water agencies and will likely be expanded in the upcoming congressional debate over the size and scope of a national infrastructure package.

"Federally backed financing programs, like WIFIA, can generate annual debt service savings of 20 percent or more for most water agencies," said Limbaugh, who was tapped to serve on a panel exploring water infrastructure financing options at the Association of California Water Agency's (ACWA) spring conference in Monterey, California.  "And Congress is likely to expand WIFIA and create a similar program in the Bureau of Reclamation in any infrastructure package."

Limbaugh's presentation, which can be found here, focused in part on EPA's recently released solicitation for the WIFIA program's third round of funding for non-federal water supply, wastewater, and other water-related infrastructure projects.

WIFIA provides long-term (35-year), low-cost (today, approximately 2.94 percent) financing. In the FY 2018 WIFIA program solicitation, 39 projects, including 12 in California, were selected in 16 states and the District of Columbia.  Approximately $5 billion in financing was approved to help accelerate construction on over $10 billion in water infrastructure projects.

Limbaugh also highlighted other funding options that Congress will likely consider in the 116^th Congress, including H.R. 2473, recently introduced by Rep. Josh Harder (D-CA), and legislation expected to be introduced soon by Senator Dianne Feinstein (D-CA).

A TFG compiled guide to assist water infrastructure project sponsors in the first phase of the WIFIA application, submitting a Letter of Interest (LOI) can be downloaded here.  LOI's are due by July 5, 2019.

Prior to joining TFG in 2007, Limbaugh was appointed by the President and confirmed by the Senate as Assistant Secretary for Water and Science at the Department of the Interior. Mark also served more than three years as Deputy Commissioner for External and Intergovernmental Affairs at the Bureau of Reclamation.

Contact: Kristi More
The Ferguson Group
1901 Pennsylvania Ave, NW Suite 700
Washington, D.C. 20006
Phone: (202) 331-8500
[email protected]
thefergusongroup.com

SOURCE The Ferguson Group