WASHINGTON -- The Office of the Assistant Secretary of the Army for Civil Works and the U.S. Army Corps of Engineers today announced the first set of proposals being invited to apply for loans under the new Corps Water Infrastructure Financing Program (CWIFP). CWIFP is a new federal financing program to provide loans and loan guarantees for borrowers for safety projects to maintain, upgrade, and repair non-federal dams.
To date, Congress has provided the program $81 million through the Bipartisan Infrastructure Law and additional appropriations. CWIFP will use some of these funds to extend credit assistance to help finance non-federal dam safety projects. USACE is inviting 18 proposals spanning 12 states to submit full applications to the program.
The selection of proposals to apply to CWIFP now enables applicants to work with USACE to conduct detailed financial, technical, and programmatic evaluations of each application as the next step in the process leading toward potential financial assistance offers. These invitations to apply for credit assistance will help facilitate much needed non-federal dam safety projects.
The proposals invited to apply to CWIFP include dam repairs, dam replacements, seismic retrofits, and spillway capacity increases. Some of the proposals involve either direct or indirect benefits to economically disadvantaged communities. In addition to this first set of proposals being invited to apply, others remain under consideration for potential inclusion in CWIFP.
“With this announcement, we are facilitating efforts to address the condition of dam infrastructure in the United States. The program will help to improve the resilience of this water infrastructure in the face of climate change-driven extreme weather,” said Michael Connor, assistant secretary of the Army for Civil Works. “The Bipartisan Infrastructure Law, including funding for CWIFP, is spurring improvements and helping to ensure the safety and security of the nation’s water infrastructure.”
Invited applicants have one year to complete and submit their full application. View the full list of invitations and obtain more information about CWIFP at https://www.usace.army.mil/CWIFP.
For more information, please contact the CWIFP Team at CWIFP@usace.army.mil.
Release no. 24-013