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PROJECTS | Funding Round: FY 2023
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Overview
The Corps Water Infrastructure Financing Program (CWIFP) is a credit assistance program providing direct loans to non-Federal entities for dam safety and levee projects. The program enables critical local infrastructure investments to improve public safety across the nation. Projects are fully implemented at the local level, with local control and ownership. CWIFP provides significant financial savings to local taxpayers while leveraging minimal federal investment and risk.
CWIFP is authorized by the Water Infrastructure Finance and Innovation Act (WIFIA) which was signed into law on June 10, 2014 as part of the Water Resources Reform and Development Act of 2014. The Act established Federal credit programs to be administered by USACE and the Environmental Protection Agency (EPA) for eligible water and wastewater infrastructure projects. Additional information about EPA’s WIFIA program can be found here.
Key Features of CWIFP:
- Long-term, low cost credit assistance for water resource infrastructure projects (currently limited to dam safety projects that are non-federally owned, operated, and maintained)
- Funding of up to 49% of project costs (can fund up to 80% of project costs in some cases)
- Big impact to infrastructure with low cost and risk to taxpayers
- Available to individual projects or a group of projects with eligible costs in excess of $20 million
- Accelerates construction
- Local control and ownership of project is maintained
CWIFP will publish a Notice of Funding Availability in the Federal Register when the program is accepting new loan applications. Using the appropriations received, USACE works diligently to issue loans to qualified non-federal borrowers. The final program rule for CWIFP was published in the Federal Register on May 22, 2023.
CWIFP is part of the Revolutionize USACE Civil Works initiative. Through this initiative USACE is taking bold actions to improve its performance and engineer solutions for the nation's toughest challenges. Traditional delivery of the annual Civil Works program is being overhauled by using innovative tools, modernizing internal processes, and pursuing alternative financing approaches.
Eligibility
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Eligible Borrowers
- To be eligible for CWIFP credit assistance, a prospective borrower must be either a Local, State or Tribal Government, a Private Corporation, or a State Revolving Fund Program. Additionally multiple entities may apply for a single project under a joint application.
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Eligible Costs
Eligible costs include costs associated with:
- Development-phase activities
- Construction, reconstruction, rehab, and replacement activities.
- Acquisition of property used to mitigate environmental impacts of eligible projects.
- Capitalized interest, reserve funds, issuance costs, and other project carrying costs during construction.
Development-phase or related work completed prior to CWIFP application is eligible and can be included in the total project costs. CWIFP can provide credit assistance of up to 49% of the total project costs and up to 80% of project costs in some cases.
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Eligible Projects
CWIFP is available for credit assistance to dam safety projects that support:
- Flood damage reduction, hurricane, and storm damage reduction
To qualify under the eligibility, the project must demonstrate ecosystem restoration. This includes improving degraded ecosystem structure, function, and processes to a less degraded, more natural condition. Restored ecosystems should mimic, as closely as possible, conditions that would occur in the area in the absence of human changes to the landscape and hydrology. Ecosystem restoration is partially or fully reestablishing the attributes of a naturalistic, functioning, and self-regulating system.
Example dam safety projects that meet this eligibility include dam removal and restoration of natural floodplains, wetlands, and waterways; dam modifications like partial dam removal and spillway modifications, waterway modifications, fish passage, barriers to prevent undesirable species, and floodplain reconnection; and sediment removal with waterway restoration.
- Coastal or inland harbor navigation improvement, or inland and intracoastal waterways navigation improvement.
To qualify under this eligibility, the project must demonstrate improvements to navigation features connected or integral to a dam safety project. Navigation system includes channels, harbors, and waterways to provide safe, reliable, and efficient waterborne transportation systems.
Example dam safety projects that meet this eligibility include channel improvements related to the safe operation of a dam, dam surfaces for lock systems, and/or jetties or breakwaters that protect a dam. Dredge material disposal and sediment basins which support safe operations of a dam may also be eligible.
CWIFP focuses on projects that are not federally authorized. Non-federal projects that have received federal appropriations may be eligible under certain circumstances.
If you have questions on project eligibility, please email the CWIFP team at CWIFP@usace.army.mil.
- Background references for CWIFP project eligibility
CWIFP project eligibility requirements are derived from CWIFP's:
AUTHORIZATION under the Water Infrastructure Finance and Innovation Act of 2014 (WIFIA 2014, 33 USC Ch. 52, as amended) and
APPROPRIATIONS (Consolidated Appropriations Act, 2021, P.L. 116–260; Infrastructure Investment and Jobs Act, P.L. 117-58; Consolidated Appropriations Act, 2022, P.L. 117-103; Consolidated Appropriations Act, 2023, P.L. 117-328; and Consolidated Appropriations Act, 2024, P.L. 118-42).
CWIFP’s authorization does not restrict Federally authorized projects from being eligible under WIFIA. Current criteria issued by the Office of Management and Budget (OMB) regarding projects authorized by Congress to be constructed by the Army Corps of Engineers or the Bureau of Reclamation prevents these projects from being eligible for WIFIA funding. This restriction appears in the footnotes of the Federal Register notice on 30 June 2020 which can be found here.
Build America, Buy America
The Build America, Buy America Act (BABAA), part of the bipartisan Infrastructure Investment and Jobs Act (IIJA), requires that all infrastructure projects supported by Federal financial assistance use iron, steel, manufactured products, and construction materials made in the United States. BABAA is applicable to all Federal agencies and recipients of Federal financial assistance and contracts, including credit assistance provided by the Corps Water Infrastructure Financing Program (CWIFP).
Per Section 70914 of the IIJA an agency may not obligate funds for an infrastructure project unless all of the iron, steel, manufactured products, and construction materials used in the project are produced in the United States, or the agency waives the application of the domestic content procurement preference (Buy America preference).
The Office of Management and Budget (OMB) provides agency implementation guidance on the application of a Buy America preference in financial assistance programs and awards, which includes a BABAA waiver process. Current BABAA Implementation Guidance became effective on October 23, 2023. The U.S. Army Corps of Engineers (USACE) is working with the OMB’s Made in America Office (MIAO) to coordinate implementation and compliance of Buy America requirements with CWIFP borrowers.
How are CWIFP Projects Affected?
In accordance with guidance provided by OMB, the BABAA Requirement is applicable to non-Federal entities including States, local governments, Tribes, Territories, and non-profit organizations. For-profit private entities are not included in the definition of non-Federal entity and are therefore not subject to the statutory BABAA Requirement for CWIFP credit assistance.
The BABAA Requirement only applies to articles, materials, and supplies that are consumed in, incorporated into, or permanently affixed to an infrastructure project. As such, it does not apply to tools, equipment, and supplies, such as temporary scaffolding, brought into the construction site and removed at or before the completion of the infrastructure project. Nor does a BABAA Requirement apply to equipment and furnishings, such as movable chairs, desks, and portable computer equipment, that are used at or within the finished infrastructure project but are not an integral part of the structure or permanently affixed to the infrastructure project.
This requirement must apply to all sub-awards, all contracts, subcontracts and purchase orders for work performed under the infrastructure project.
Borrowers of CWIFP credit assistance must maintain certifications or equivalent documentation for proof of compliance that those articles, materials, and supplies that are consumed in, incorporated into, affixed to, or otherwise used in the infrastructure project, not covered by a waiver or exemption, are produced in the United States. The certification or proof of compliance must be provided by the suppliers or manufacturers of the iron, steel, manufactured products and construction materials as well as provided by all sub-awardees, contractors and vendors to the recipient of CWIFP assistance. Recipients must keep these certifications with the award/project files and be able to produce upon request from CWIFP, auditors or Office of Inspector General.
What is the BABAA Waiver Process?
USACE may approve a waiver request from a CWIFP borrower, if one or more of the following conditions is met:
- Applying the Buy America Preference would be inconsistent with the public interest (a “public interest waiver”);
- The types of iron, steel, manufactured products, or construction materials are not produced in the United States in sufficient and reasonably available quantities or of a satisfactory quality (a “nonavailability waiver”); or
- The inclusion of iron, steel, manufactured products, or construction materials produced in the United States will increase the cost of the overall project by more than 25 percent (an “unreasonable cost waiver”).
Waiver requests must be provided to CWIFP in writing with materials supporting one or more of the conditions above. Waivers must undergo a 15-day public comment period and will be published on this webpage. Once the informal public comment period closes, the waiver request and a summary of the public comments received are submitted to the Office of Management and Budget's MIAO for its review. MIAO will review the waiver request for consistency with policy and will post the waiver request and MIAO's determination on its own public facing website for transparency purposes. After MIAO completes its review, USACE will decide whether to grant the waiver. Once a decision is issued, USACE will notify the borrower of its decision. The decision will be posted on this webpage. If a waiver is established by USACE at the agency-level (a “general applicability waiver”), USACE will post its decision on this website without any further notification.
Waivers Opened for Public Comment, Approved or Denied:
Project-Level Waiver Requests Open for Public Comment
Approved Agency-Level Waivers
The Corps provides a waiver of BABA requirements of manufactured products for CWIFP awards issued on or after the effective date of this waiver. The duration of the waiver is one year from the effective date. CWIFP awards covered under this waiver provide financing for projects with long lead times that initiated design planning prior to May 14, 2022, the effective date of BABA.
“Manufactured products” means: (1) Articles, materials, or supplies that have been: (i) Processed into a specific form and shape; or (ii) Combined with other articles, materials, or supplies to create a product with different properties than the individual articles, materials, or supplies. (2) If an item is classified as an iron or steel product, a construction material, or a Section 70917(c) material under 2 CFR 184.4(e) and the definitions set forth in 2 CFR 184.3, then it is not a manufactured product. However, an article, material, or supply classified as a manufactured product under 2 CFR 184.4(e) and paragraph (1) of this definition may include components that are construction materials, iron or steel products, or Section 70917(c) materials.
Approved Project-Level Waivers
Waiver Requests Denied
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Q: Who can apply for CWIFP assistance?
A: To be eligible for CWIFP credit assistance, a prospective borrower must be at least one of the following:
- A corporation
- A partnership
- A joint venture
- A trust
- A State or local governmental entity, agency, or instrumentality
- A tribal government or consortium of tribal governments
- A State infrastructure financing authority
Q: What types of projects are eligible for CWIFP?
Q: Are indirect improvements that improve dam safety eligible under this program?
A: For a dam safety project to be eligible for CWIFP credit assistance, the borrower must show a decrease in the hazard and/or a decrease in the potential consequences of poor performance of the existing NID listed dam structure. This improvement can be achieved from direct or indirect modifications within the system to achieve a safety improvement. As an example, borrowers may implement watershed-based solutions that decrease the hazard at or downstream of an eligible dam, and the cost of those watershed based solutions may be an eligible project expense under CWIFP. However, a proposed project will need to be reviewed for eligibility based on its own specific circumstances.
Q: Are territories of the United States and the District of Columbia, or entities within such territories, eligible for CWIFP assistance?
A: Yes. For purposes of CWIFP, any territory of the United States, and the District of Columbia, are considered states. Therefore, any eligible entity listed in 33 U.S.C. 3904 located in a territory or the District of Columbia may receive CWIFP assistance, including the governments of those territories.
Q: Are non-profit entities eligible for CWIFP assistance?
A: Yes. Non-profit entities are typically organized as corporations or partnerships, both of which are defined as eligible entities in 33 U.S.C. 3904.
Q: Can multiple entities come together and jointly apply?
A: Yes. Multiple entities can come together under one application with a common security pledge.
Q: How does CWIFP define private entities?
A: To be eligible under this program, a borrower must be one of the following: A corporation; a partnership; a joint venture; a trust; a State, or local governmental entity, agency, or instrumentality; a tribal government or consortium of tribal governments; or a State infrastructure financing authority.
Q: What is considered an economically disadvantaged community?
A: To be considered economically disadvantaged, a community only needs to meet one of the following criteria:
- Low income - The area has a per capita income of 80 percent or less of the national average;
- Unemployment rate above national average - The area has an unemployment rate that is, for the most recent 24-month period for which data are available, at least 1 percent greater than the national average unemployment rate;
- Indian country as defined in 18 U.S.C. 1151 or in the proximity of an Alaska Native Village;
- U.S. Territories
Q: What does it mean to serve an economically disadvantaged community?
A: Prospective borrowers should demonstrate that an economically disadvantaged community would benefit as a result of the proposed project. This could include if the project reduces risks to that community.
Q: What is the definition of Environmental Restoration for CWIFP?
A: For CWIFP, environmental restoration is synonymous with ecosystem restoration. Ecosystem restoration means improving degraded ecosystem structure, function, and processes to a less degraded, more natural condition. Restored ecosystems should mimic, as closely as possible, conditions that would occur in the area in the absence of human changes to the landscape and hydrology. Ecosystem restoration is partially or fully reestablishing the attributes of a naturalistic, functioning, and self-regulating system.
Q: What is needed to confirm public support (or sponsorship) of a project undertaken by a corporate or private entity?
A: As a requirement of the Corps Water Infrastructure Financing Program, for a project that is undertaken by an entity that is not a State, local or Tribal government, the project must be publicly sponsored (see 33 CFR 386.10(a)(4)).
Publicly sponsored means that the borrower must demonstrate, to the satisfaction of the Secretary of the Army, that it has consulted with the affected State, local, or Tribal government in which the project is located, or is otherwise affected by the project, and that such government supports the proposed project.
Support should be shown by a certified letter signed by the approving municipal department or similar agency, mayor or other similar designated authority, local ordinance, or any other means by which local government approval can be evidenced.
For Corporate or Private borrowers, we request that you seek a letter of support from one or more affected State, local, or Tribal governments. The letter should specify support for the projects that you plan to undertake as part of the CWIFP financing.
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Q: What types of projects are eligible for CWIFP?
Q: Is sediment removal an eligible project type?
A: A sediment removal project is considered eligible for CWIFP financing when the removal of sediment contributes to the safety and structural integrity of a dam, or when sediment removal mitigates storage capacity reduction that could compromise the dam's intended safe functionality. In this context, sediment removal is not merely a routine maintenance activity; rather, it serves as a critical safety measure addressing potential hazards associated with sediment accumulation.
When seeking a credit assistance through the CWIFP for sediment removal purposes, an applicant should highlight the impact of sediment accumulation on dam safety as it relates to the selection criteria
Q: Is there a required timeframe for completion of construction following loan closing.
A: Typically, USACE expects projects to be completed within 7 years after closing. Disbursement schedules will be negotiated prior to closing of a loan.
Q: How much financial assistance can I obtain for my project?
A: CWIFP can provide credit assistance of up to 49% of total project costs and up to 80% of project costs in some cases. Total Federal funding for the project may not exceed 80% of total project costs.
Q: Can CWIFP credit assistance be used to finance costs in addition to construction?
A: Yes, eligible costs for CWIFP credit assistance can include:
- Development-phase activities (including consulting fees, feasibility and design costs)
- Construction, reconstruction, rehab, and replacement activities
- Acquisition of property used to mitigate environmental impacts of eligible projects
- Capitalized interest, reserve funds, issuance costs, and other project carrying costs during construction.
Q: Is Design-Bid-Build the only project delivery method that will work?
A: No, CWIFP will consider and encourages alternative delivery mechanisms including Design-Build and public-private partnerships (P3).
Q: Will projects have to comply with all applicable federal laws and regulations to receive a loan?
A: Yes, projects will have to comply with all applicable federal laws and regulations as described in the CWIFP Program Rule.
Q: Can a state apply for a pool of funds and disburse on a project basis?
A: Yes, that would be possible as long as the projects all meet the eligibility requirements and are completed within no more than seven years of loan close.
Q: Are projects required to undergo the Corps justification process such as the estimation of a benefit cost ratio to be eligible for CWIFP?
A: No. The typical “Corps Process” is not required for a CWIFP loan. To be economically justified the borrower must demonstrate that the benefits exceed the costs of a project. During the application evaluation process, the Corps will determine whether collateral provided for the CWIFP credit assistance, which functions as a proxy for the value beneficiaries receive from the project, exceed applicable project costs. We will not be expecting a project to go through the Corps NED or Benefit/Cost ratio justification to be determined economically justified.
Q: May projects with multiple funding partners apply for CWIFP assistance? What limitations exist?
A: In general, CWIFP funds will be provided to borrowers on a first come, first served basis, meaning that the participant to submit an application for CWIFP credit assistance during the earliest CWIFP funding round will be eligible for the full amount of CWIFP funding available to their project. If an applicant does not request the full amount of CWIFP funding available to the project (either 49 percent or 80 percent of total project costs depending on eligibility limitations and available funding), the additional amount of CWIFP funding available for that project can be utilized by other borrowers of the same project during subsequent CWIFP funding rounds.
If multiple borrowers submit a single, combined preliminary application or multiple preliminary applications for CWIFP credit assistance for the same project during the same funding period, CWIFP will first allocate available funding between the parties based on any existing agreement to allocate CWIFP funds between the parties. If there is not an existing agreement between the parties regarding the matter, CWIFP will allocate available funding ratably, according to the relative share of each funding partner for the project.
Q: What environmental restoration activities may be eligible for CWIFP?
A: Examples of environmental restoration activities that may be associated with safety projects to maintain, upgrade, and repair dams may include: dam removal and restoration of natural floodplains, wetlands, and waterways; dam modifications like partial dam removal and spillway modifications, waterway modifications, fish passage, barriers to prevent undesirable species, and floodplain reconnection; and sediment removal with waterway restoration.
Q: How do I ensure my project complies with Executive Order 11988 (Floodplain Management)?
A: Compliance with applicable state or local floodplain management regulations generally satisfies the requirements of EO 11988. Applicants should document compliance by providing copies of local/state permits or certifications related to floodplain development. If a no-rise certificate (or similar) was used to be compliant with EO 11988, note "no-rise" under Question 6 Floodplain Permit section of the PEA Environmental Questionnaire. Otherwise, describe how the project has been designed or modified to minimize and mitigate floodplain impacts in Table M of the PEA Environmental Questionnaire.
Q: Can we begin construction before receiving a CWIFP loan? Do we need any approvals from CWIFP beforehand?
A: Yes, you may begin construction before a CWIFP loan agreement is finalized. CWIFP’s due diligence review— including the environmental review—can take place at any stage of the project, whether it's in planning, design, or construction. However, your project must comply with all applicable federal, state, and local laws, and you must secure all necessary permits and approvals before starting construction. CWIFP does not issue project approvals. While the CWIFP review is required for loan closing, it should not delay your construction timeline.
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Q: How is the interest rate on loans determined?
A: The interest rate will be equal to or greater than the yield on U.S. Treasury securities of comparable maturity on the date of execution of the credit agreement. The base interest rate can be identified through use of the daily rate tables published by the Bureau of the Fiscal Service for the State and Local Government Series (SLGS) investments, which can be found at Treasury Direct SLGS Daily Rate Table (https://www.treasurydirect.gov/GA-SL/SLGS/selectSLGSDate.htm). The CWIFP program will estimate the yield on comparable Treasury securities by adding one basis point to the SLGS daily rate with a maturity that is closest to the weighted average loan life of the CWIFP credit assistance, measured from first disbursement.
Q: When will USACE lock in the actual rate for the loan?
A: The interest rate is locked at loan closing and the execution of the credit agreement.
Q: When must loan repayment begin?
A: Loan repayment can be deferred up to five years following substantial completion of the project. Beyond that, USACE has flexibility to structure repayment to best match the cashflow of the project in question. USACE and prospective borrowers will negotiate the repayment schedule for each project, and it will be included in the credit agreement.
Q: The WIFIA statute requires a dedicated pledged revenue source for repayment of credit assistance. How is dedicated revenue source defined?
A: CWIFP interprets “dedicated revenue sources” to include such sources as taxes, rate revenue, transfers pledged from State or local governments, municipal general obligation pledges, general recourse corporate financing, project revenues, or other revenues that are pledged for the purpose of paying debt service on the CWIFP credit instrument. Federal funds are not considered a dedicated source of repayment.
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Q: How do I apply?
A: Prospective borrowers should complete applications electronically via the online application portal located at https://CWIFPapp.usace.army.mil. PDF versions of the preliminary and full application forms (OMB Control Number 0710-0026) are provided below to inform prospective borrowers of the information that will be requested in the online portal. Applications must be completed in the online application portal; the forms provided below are for reference only and will not be accepted as application submissions.
Q: How do I register for SAM.GOV?
A: Register for SAM.GOV Here.
Q: How long is the repayment period?
A: Repayments must commence no later than five years following substantial completion of the project. Repayment of all principal and interest must be completed by 35 years after the date of substantial completion of the project or the project’s useful life, whichever comes earlier. The debt service repayment schedule may be sculpted to accommodate the projected cash flow from project revenues and other sources.
CWIFP defines substantial completion as the stage in the progress of the project when the project or designated portion thereof is sufficiently complete in accordance with the contract documents for each individual agreement, so that the project or a portion thereof can be used for its intended purpose.
Q: How does the application process work?
A: Once a Notice of Funding Availability (NOFA) (link to: CWIF Program Eligibility (army.mil)) is posted notifying the public that new funding is available, USACE will be ready to accept preliminary applications from prospective borrowers. Applying for financing through CWIFP is a two-step process:
- Preliminary Application: Borrowers will need to submit a preliminary application. After reviewing preliminary application submissions, USACE will invite projects that are reasonably anticipated to meet the eligibility requirements and for which CWIFP has sufficient budget authority to apply to the full application.
- Full Application: Once invited to apply, applicants will have one year (365 days) to complete and submit a full application.
Q: What are the application requirements?
Q: When are applications due?
A: The preliminary application due date will be set in the NOFA (link to: CWIF Program Eligibility (army.mil)). If an applicant receives an invitation to submit an application, they will have 60 days to accept the invitation and pay the non-refundable application fee deposit. The applicant has 365 days from the date they accept the CWIFP invitation to apply to submit a completed CWIFP application.
Q: How long will it take for a decision to be made on a loan application?
A: Once a completed application is received, USACE will work with the applicant to expeditiously as possible move towards issuance of a loan.
Q: If an application is approved, when will the project receive funds?
A:
- The applicant will receive funding after closing of the loan consistent with the terms of the loan agreement and disbursement schedule.
- Disbursements may be scheduled as often as once per month, and will be made on the 15th of each month. There is no limit to a disbursement request other than the amount of funding remaining available on the loan.
- A borrower can request the disbursement as needed; however, please note that interest is only charged on funds that have been disbursed and disbursements can only be for costs incurred.