WIFA Closes $8,687,500 Loan With the City of El Mirage

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

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