WIFIA paves way for aging water infrastructure

Industrial zone valves, factory equipment.

MARCH 2014 — Aging water infrastructure and associated building systems are on the rise; and as a result, have longstanding impacts on the treatment of water imperative to our quality of life. The American Water Works Association (AWWA), in conjunction with likeminded organizations are eager to advance repairs and rehabilitations by lowering the cost of investments for infrastructure projects. The Water Infrastructure Finance and Innovation Authority (WIFIA) concept would aim to do just that.

While ensuring a streamlined approach to financing, WIFIA would grant funds from the US Treasury at long-term Treasury rates. Assistance would be offered in the form of low interest loans. The WIFIA concept would be modeled after the success from the transportation industry with TIFIA and would strive to increase the level of investment in water and wastewater infrastructure.

Currently, the success of WIFIA remains in the hands of those at Capitol Hill with major support from AWWA and the Association of Metropolitan Water Agencies (AMWA) and the Water Environment Federation (WEF).

As many projects often lack aid from State Revolving Funds, WIFIA would offer a drastic change in water infrastructure for communities around the nation. Learn more details about AWWA’s stance on WIFIA and the capability of its tremendous impact here.