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 borrowers. Funding priorities are announced with the release of each Notice of Funding Availability.

Active 12.026 Department of The Army, Usace, Department of Defense E - Direct Loans Not applicable. Title 33—NAVIGATION AND NAVIGABLE WATERS U.S.C. Section 3901
33 US Code Ch. 52: Water Infrastructure Finance and Innovation 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 Not applicable. Prospective borrowers should complete applications electronically via the online application portal located at https://CWIFPapp.usace.army.mil. Applications must be completed in the online application portal. Once a NOFA is posted notifying the public that new funding is available, USACE will be ready to accept preliminary applications from prospective borrowers. Preapplication coordination is required. An environmental impact assessment is required for this listing. Additional information may be found at: www.usace.army.mil/CWIFP 2 CFR 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards applies to this program. Prospective borrowers should complete applications electronically via the online application portal located at https://CWIFPapp.usace.army.mil. Detailed instructions for submitting applications will be provided 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. Contact the headquarters or regional location, as appropriate for application deadlines From 90 to 120 days. 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. From 1 to 15 days. 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. Not applicable. Selection criteria will be outlined in the NOFA. 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. Performance Reports: Performance reports are required. Frequency determined during negotiation of terms and conditions of loan agreement. Reviews by the CWIFP Portfolio Manager may occur each year. In addition, the program requires audited financial statements per regulations and in our loan agreements. The borrower should retain all files and records relating to the loan. Generally, these files should be retained until 5 years after the later of the date on which (i) all obligations under the CWIFP loan agreement have been met and any required audits performed and (ii) any litigation relating to the project, CWIFP loan or CWIFP loan agreement have been resolved. Statutory formula is not applicable to this assistance listing.

Matching is . CWIFP can provide credit assistance of up to 49% of total project costs, and up to 80% of total project costs for projects that serve economically disadvantaged communities. Federal funding cannot exceed 80% of total project costs.

MOE requirements are not applicable to this assistance listing. 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. None/Not specified. CWIFP Team
441 G Street NW
Washington, DC 20548 USA
CWIFP@usace.army.mil
Phone: 2027611878 https://www.usace.army.mil/cwifp 00-0009-6-4-388 (Direct Loans) FY 23 Estimate Not Available FY 24 Estimate Not Available FY 25 Estimate Not Available - No obligations at this time. The program issued its first Notice of Funding Availability (NOFA) and expects to close on its first loan by FY 2025. Range: $9,800,000 to no maximum. Average: Currently unknown. Refer to the CWIFP website: www.usace.army.mil/cwifp for more information.