PHOENIX — The Water Infrastructure Finance Authority of Arizona (WIFA) announced Nov. 2 that it has closed a $5.1 million loan with the city of Winslow.
The loan funds will be used to replace and upgrade infrastructure at the city’s wastewater treatment plant.
The city received a 30-year loan term at a rate of 2.672 percent that includes forgiving a portion of the principal.
The purchase of service vehicles for use at the wastewater treatment plant are included in the project, as well as the rebuild of two lift stations and the repair or replacement of more than 20 manholes around the city. Additionally, the city will replace and relocate parts of its deteriorating sewer main and will construct a new sewer line running parallel to the main line to provide redundancy and additional sewer capacity for the future.
WIFA, through its board, approved $917,000 in forgivable principal to reduce the overall cost to the residents.
“WIFA is proud to support the city of Winslow in the modernization of wastewater infrastructure that will positively impact the community for decades to come,” said Trish Incognito, WIFA executive director.
WIFA is a governmental organization dedicated to protecting public health and promoting environmental quality through financial assistance for water and wastewater infrastructure. WIFA offers funding for drinking water, wastewater and stormwater projects designed to ensure safe, reliable drinking water and proper wastewater treatment. Over the last 25 years, WIFA has invested over $2 billion in Arizona’s communities. More information is available at azwifa.gov.