The U.S. Environmental Protection Agency (EPA) Administrator Lee Zeldin announced a $147 million Water Infrastructure Finance and Innovation Act (WIFIA) loan to Florida Keys Aqueduct Authority. The announcement follows EPA’s “Powering the Great American Comeback” initiative that affirms the agency’s commitment to protecting human health and the environment while remaining good stewards of tax dollars and advancing policies to energize the economy. This loan will help the Authority ensure reliability and longevity of drinking water infrastructure, serving 150,000 people while creating local jobs.
“Part of our Powering the Great American Comeback initiative is putting taxpayer dollars to good use, and this nearly $150 million WIFIA loan will provide clean and safe drinking water to 150,000 Americans. I will always work with local, public, and private partners to help EPA achieve its goal of carrying out our core mission of bringing clean air, land, and water to all Americans,” said Administrator Zeldin.
The Florida Keys Aqueduct Authority expects to complete several projects in Miami-Dade and Monroe Counties to improve the system’s ability to withstand hurricanes and other extreme weather events, address emerging contaminants, and expand capacity to meet customer needs. The Authority will undertake nine project components consisting of critical upgrades to the transmission mains, storage tanks, and a water treatment facility with this WIFIA loan. These enhancements will protect against damage caused by saltwater intrusion and improve drinking water quality through proactive regulatory compliance. The Authority will also reduce risk of service disruptions and enhance system reliability.
“The Florida Keys Aqueduct Authority is pleased to have secured this essential component of our funding package for water system improvements and resiliency initiatives. We are grateful for our partnership with the Environmental Protection Agency (EPA), whose commitment to providing financial assistance is vital in addressing the unique vulnerabilities of our water supply system in the Florida Keys. This collaboration enables the Authority to maintain the delivery of safe, reliable, potable water while effectively mitigating the risk of widespread disruptions during emergencies and disaster-related events,” said Florida Keys Aqueduct Authority Executive Director Greg Veliz.
EPA’s WIFIA loan allows deferment of principal payments for several years, which will save the Florida Keys Aqueduct Authority an estimated $29.5 million over the life of the loan. This is EPA’s second WIFIA loan to the Florida Keys Aqueduct Authority. Combined, approximately $200 million in WIFIA financing is helping accelerate critical drinking water system projects.
Since issuing its first loan in 2018, EPA’s WIFIA program has announced over $21 billion in financing to support $47 billion in water infrastructure projects that are strengthening drinking water, wastewater, and stormwater infrastructure while creating over 160,000 jobs. Through its flexible financing features and competitive interest rates, WIFIA helps communities save money. By partnering the WIFIA program’s federal funding with state, local, and private investment, EPA accelerates water infrastructure investment worth billions of dollars.
