On June 10, 2014 President Obama signed into law the long awaited Water Infrastructure Finance and Innovation Act (WIFIA). The WIFIA program, which is modeled on the highly successful TIFIA transportation program, will make available low interest rate federal loans to partially fund vital water and wastewater infrastructure.
WIFIA has the potential to play an important part in encouraging the use of P3s to address the pressing need for capital investment in water and waste water infrastructure. The program could start inviting applications as early as this fall.
This publication provides a description of the key elements of the WIFIA program.