PDF Financing Options - Virginia Department of Health

Financing Options:

Virginia Department of Health Office of Drinking Water 109 Governor Street, 6th Floor Richmond, Virginia 23219 Phone: (804) 864-7500 Fax: (804) 864-7521 vdh.drinking-water/

Last update: 02/2018 Information provided herein is to assist interested parties identify potential funding sources. This information was accurate at the time provided to VDH, however specific program details such as contacts and requirements may have changed and should be confirmed.

AGENCY

Coalfield Water Development Fund, Inc. (CWDF)

PROGRAM

Drinking Water

Economic Development Administration (EDA) US DEPT. of COMMERCE (USDOC)

Public Works Program

Rural Development (RD) US DEPT. of AGRICULTURE (USDA)

Utilities Loan Assistance: Water & Waste Disposal

VIRGINIA WATERWORKS: FINANCING OPTIONS

CONTACT

Donna G. Stanley Administrative Agent Coalfield Water Development Fund Mountain Empire Community College 3441 Mountain Empire Road Big Stone Gap, VA 24219 Ph: 276-870-2419 coalfieldwater@ me.vccs.edu/index.aspx

AID TYPE

GRANTS (variable)

TERMS

ELIGIBILITY

Political subdivisions in southwest Virginia (Planning District Commissions 1 and 2): Buchanan, Dickenson, Lee, Russell, Scott, Tazewell, Wise counties, and the City of Norton.

Bob Gittler Economic Development Specialist EDA-Philadelphia Regional Office The Curtis Center 601 Walnut Street, Suite 140 South Philadelphia, PA 19106-3323 Ph: 215-597-4360 BGittler@

Janice Stroud-Bickes Community Programs Director Ph: 804-287-1615 janice.stroud-bickes@va.

Kent Ware Acting Community Facilities Program Director Ph: 804-287-1557 Kent.ware@va.

Darlene Hughes Water and Environmental Specialist Ph: 804-287-1602 Darlene.hughes@va.

USDA - RD Virginia State Office 1606 Santa Rosa Road, Suite 238 Richmond, VA 23229 TDD: 804-287-1753 rd.va

GRANTS

50% match; Public Works grants average in Applicant Eligibility: includes District Organizations and

the $1M-$2M range

state, county, city or township governments including special

purpose units of local governments engaged in infrastructure

development activities.

Regional Eligibility: based upon per capita income levels,

unemployment levels, or special needs (details vary).

DIRECT LOANS

& GRANTS

LOANS - interest rates up to 40 years, in 3 Political subdivisions with a population of 10,000 or less.

tiers: market, intermediate, and poverty

Applicants must be unable to obtain financing from other

depending on median household income. sources at rates and terms they can afford and/or their own

For poverty rate, the proposed system must resources.

correct a documented health and safety

hazard.

GRANTS - may be up to 75% of eligible project cost, dependent upon the median household of the service area and the availability of the RD's limited grant funds.

Virginia Small Business Virginia Private

Financing Authority

Activity Bonds

(VSBFA)

Virginia Dept. of Small

Business & Supplier Diversity

Anna Mackley Chief Credit Officer & Operations Manager VSBFA 101 N. 14th St, 11th Floor Richmond, VA 23219 Ph: 804-371-8255 anna.mackley@sbsd.

BONDS

$10.0 million per project in any calendar year.

Private ownership for local public purpose

VIRGINIA WATERWORKS: FINANCING OPTIONS

AGENCY

PROGRAM

CONTACT

Virginia Municipal League/ Virginia Association of Counties Finance (VML/VACo Finance)

Fixed Rate Loan Program

Equipment Leasing

Steven C. Mulroy Managing Director VML/VACO Finance 919 E. Main Street, Suite 1100 Richmond, VA 23219 Ph: 804-648-0635 info@

Commercial Paper Program

AID TYPE

TERMS

LOANS, INTERIM FINANCING

Avoid costs of issuance Option to repay after 10th year Amortization periods up to 20 years Avoid expensive document prep costs Arbitrage monitoring reports available

EQUIPMENT Competitive rates LEASING Terms up to expected life of equipment

ELIGIBILITY

Political subdivisions Minimum $500,000. No maximum.

Minimum of $50,000. No maximum.

LOANS

Interest rates that are historically lower than Minimum loan size generally $500,000; no maximum

long-term bond rates;

(Participants have financed as much as $75 million);

No upfront program fees -- your only

An ongoing source of financing to use for various projects

closing cost is for bond counsel's opinion; and/or cash flow requirements throughout the year.

Financing for terms up to 20 years;

Share costs with other participants;

Flexibility in scheduling a closing date

Virginia Dept. of Housing & Community

Community Development (DHCD) US DEPT. of HOUSING & URBAN DEVELOPMENT (HUD)

Development Block Grant (CDBG): Water & Sewer Assistance

Appalachian

Regional Commission (ARC)

Virginia Indoor Plumbing

Rehabilitation Loan Program

Tamarah Holmes, Ph.D. Associate Director of Policy & Strategic Development DHCD - Community Development Ph: 804-371-7056 tamarah.holmes@dhcd.

Joanne Peerman Program Manager DHCD - Community Development Ph: 804-371-7071 joanne.peerman@dhcd.

Virginia Dept of Mines, Mineral & Energy (DMME)

Virginia Resources Authority (VRA)

Abandoned Mine Land (AML)

DHCD MLesi a SBtaketrC t AML Project Coordinator DMME P.O. Drawer 900 Big Stone Gap, VA 24219 Ph: 276-523-8100 Lesa.Baker@dmme. dmme.

Virginia Pooled Financing Program: all types

Peter D'Alema Director of Program Management VRA 1111 E. Main Street, Suite 1920 Richmond, VA 23219 Ph: 804-616-3446 pdalema@ /virginia-pooled-financing-program/

GRANTS (variable)

Political subdivisions in non-entitlement localities (cities/towns with populations less than 50,000, counties with populations less than 200,000).

GRANTS Construction: $500,000 cap. Non-construction: $100,000 cap.

Political subdivisions in the western portion of Virginia, and nonprofit organizations.

LOANS &

GRANTS

LOANS - up to $35,000 base cost cap per Low- to moderate-income homeowners with no indoor

home; 0% interest, subsidized based on plumbing or a failing septic system. Must reside in a political

ability to pay; 10-year term.

subdivision in non-entitlement localities (cities/towns with

GRANTS - up to $10,000 cap per home, but populations less than 50,000, counties with populations less

house must meet DHCD Housing Quality than 200,000).

Standards upon completion.

GRANTS (Grants)

Political subdivisions in southwest Virginia (Planning District Commissions 1 and 2): Buchanan, Dickenson, Lee, Russell, Scott, Tazewell, Wise counties, and the City of Norton.

LOANS

Recommended minimum loan size:

Political subdivisions (cities, towns, municipal authorities,

$750,000. Rates based on AAA/AA ratings, commissions, etc.) needing funding for essential water related

up to 30 year terms.

projects.

VIRGINIA WATERWORKS: FINANCING OPTIONS

AGENCY

Environmental Protection Agency (EPA)

PROGRAM

CONTACT

Drinking Water State See below: Office of Drinking Water,

Revolving Fund

Virginia Dept. of Health

(DWSRF)

AID TYPE

TERMS

REVOLVING See below: Office of Drinking Water, FUND Virginia Dept. of Health

ELIGIBILITY

See below: Office of Drinking Water, Virginia Dept. of Health

Drinking Water State Steven D. Pellei, PE

Revolving Fund

Director of Construction Assistance,

(DWSRF)

Planning, & Policy

Ph: 804-864-7500

steve.pellei@vdh.

LOANS &

GRANTS

0% to less than market, up to 30 years.

Community and nonprofit noncommunity waterworks owned

Typical loan terms are 1.5 %- 3.5% interest, by political subdivisions and investors.

maximum of 20 years (30 years for

disadvantaged waterworks).

Non-construction: grants up to $50,000

per project.

Water Supply Assistance Grant (WSAG)

Community Water Fluoridation

Theresa E. Hewlett Program Support Tech., Sr. Ph: 804-864-7501 theresa.hewlett@vdh.

Jeanette R. Bowman, MPH Community Water Fluoridation Coordinator Division of Prevention & Health Promotion Office of Family Health Services Virginia Department of Health Ph: 804-864-7779 Jeanette.Bowman@vdh.

GRANTS (Grants) GRANTS (Grants)

Community waterworks owners and political subdivisions. Community waterworks owners and political subdivisions.

Water Infrastructure Finance and Innovation Act (WIFIA)

Karen Fligger Environmental Protection Specialist EPA Ph: 202-564-2992 fligger.karen@

LOANS

Interest rate will be equal or greater to the US Treasury rate of a similar maturity

Minimum project size: $20 Mil, $5 Mil for communities ................
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