From: FOREMAN Katie
Sent: Monday, February 03, 2014 4:33
PM
To: [WQ] Staff
Subject: EQC adopts amendments to the
Clean Water State Revolving Fund program rules
Hi All,
I am pleased to announce that the Oregon Environmental Quality Commission and the U.S. Environmental Protection Agency have approved amended state rules which allow for longer-term financing for treatment works projects eligible under the state’s Clean Water State Revolving Fund program. This new option makes water treatment projects more affordable and accessible for more Oregon communities by spreading the debt repayment over a longer period.
Effective today, February 3, 2014, all new borrowers have a choice of either the traditional loan program with terms up to 20 years or the new option of financing their treatment works projects with a bond purchase agreement with terms up to 30 years. A small group of existing borrowers that meet economic and loan eligibility requirements also have the choice to refinance their existing Clean Water State Revolving Fund treatment works loan with a longer-term bond purchase agreement. Eligible projects under the amended rules are only “treatment works” projects such as wastewater, industrial and stormwater treatment plans, equipment and collection systems. This new option will particularly help communities operating with limited funds finance their much needed wastewater and water treatment improvement projects.
Please see the link to the staff report and amended rules and let me know if you have any specific questions. A news release will be issued on this Wednesday February 5, 2014 to further communicate the amended rules.
Regards,
Katie
---
Katie Foreman
Clean Water State Revolving Fund Program Coordinator
Oregon Department of Environmental Quality
811 SW 6th Avenue, Portland, OR, 97204
503.229.5622