On June 24th, 2020, the Water Infrastructure Finance Authority and the City of El Mirage closed their Drinking Water State Revolving Fund (DWSRF) loan. The loan is for $8,687,500, it has a 25-year repayment term, and carries a 1.874% interest rate.
Project Description
To maintain compliance with state groundwater quality and quantity requirements, El Mirage must augment its current water sources. Acquisition of long-term storage credits ensures El Mirage's ability to offset all groundwater pumping by securing replenishment in the region's aquifers. Additional long-term storage credits will buffer the City's water portfolio and allow the City to meet replenishment requirements for years to come.
WIFA Media Contact:
This email address is being protected from spambots. You need JavaScript enabled to view it., Communications Director | P: (602) 364.1326