LOAN CLOSING

The Water Infrastructure Finance Authority of Arizona (WIFA) announced today that it had closed a $2,568,738 20-year CWSRF loan with Highland Pines DWID. The loan carries a 1.739% interest rate and features $716,000 in Principal Forgiveness.

Project Description

The loan will fund the replacement and upgrade of a 2.1-mile main transmission line from Spence Springs road into the Highland Pines subdivision; as well as replacement of sections of a water line along Madizell Road. It will include replacing the 6-inch watermain through the Forest Service easement with 6-inch Ductile Iron Pipe and replacing the 6-inch waterline within Madizell Road with 6-inch C900 PVC Pipe along with all needed valves and air release valves throughout the system. A temporary bypass waterline will be installed during construction of the main line through the Forest Service to insure uninterrupted service to the community during construction.

About WIFA

WIFA is a governmental organization dedicated to protecting public health and promoting environmental quality through financial assistance for water and wastewater infrastructure. WIFA is Arizona's administrator of the Clean water and Drinking Water State Revolving Funds (CWSRF and DWSRF) and provides funding for drinking water, wastewater, and stormwater projects. The SRF programs function like infrastructure banks by providing low-interest loans to eligible recipients for drinking water and clean water infrastructure projects. Over the last 30 years, WIFA has proudly invested over $3 billion in Arizona's communities.

Media Contact

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