As Colorado communities strive to implement sustainable and resilient water infrastructure projects, securing funding is often a top challenge. To support communities’ efforts to overcome this challenge, WaterNow Alliance is excited to announce our new Colorado State Revolving Fund (SRF) Technical Assistance Program! This initiative aims to help communities navigate the complexities of the SRF program, ensuring that environmentally sustainable water projects get the financial support they need.
The Colorado SRF Technical Assistance Program
WaterNow’s Colorado SRF Technical Assistance Program is designed to empower communities with the resources and expertise they need to secure financing for sustainable water infrastructure projects. As a unique approach within the ecosystem of technical assistance providers, WaterNow’s program focuses on supporting projects that prioritize sustainability and water efficiency, such as green stormwater infrastructure, indoor and outdoor water efficiency, water reuse, source watershed protection, lead service line replacement, and more.
Each of these sustainable project types are eligible for the SRF, but may need extra support as they are not the typical water infrastructure projects that receive SRF financing. To provide this extra support, the Colorado SRF Technical Assistance program offers a range of pro bono services, such as:
- Personalized consulting sessions to address specific SRF-related questions and concerns.
- Guidance on understanding the detailed requirements and steps involved in applying for DWRF or WPCRF loans.
- Stakeholder identification to help build community trust and establish necessary project contacts for smoother project implementation.
- Guidance on the pre-qualification process, including navigating the annual eligibility survey and ensuring all required documentation is in order.
- Community-specific financial analysis to help local agencies explore options for financing sustainable water infrastructure projects.
- Connecting communities with additional resources, such as the Region 8 Water Finance Center, WaterNow’s Tap into Resilience Expert Panel, and SRF administrators for further support and expertise.
WaterNow’s Colorado SRF Technical Assistance program is open to all water, wastewater, and stormwater managers in Colorado.
Ready to apply? Fill out this inquiry form and we’ll be in touch. The first step is to work with you to determine which types of support would be most useful to your utility.
Continue reading to learn more about Colorado’s SRF program and the benefits of this low-cost financing.
What is the Colorado State Revolving Fund Loan Program?
The Colorado SRF Program is a federal-state partnership that has provided an estimated $700 million for water infrastructure investments in Colorado over the last 4 decades. The Colorado Water Resources and Power Development Authority (CWRPDA) and the Colorado Department of Public Health and Environment (CDPHE) administer the program working with water managers to finance projects across the state.
The Colorado SRF consists of two programs. The Drinking Water Revolving Fund (DWRF)—which is aimed at financing projects that ensure the provision of safe drinking water. And the Water Pollution Control Revolving Fund (WPCRF)—which finances projects that improve or protect water quality, including wastewater treatment, stormwater management, and nonpoint source projects.
Benefits of the Colorado State Revolving Fund Program
The Colorado SRF program offers significant financial benefits to communities. These benefits include:
- Low-interest loans, offered at rates lower than traditional market rates.
- Principal forgiveness, effectively turning a portion of the loan into a grant that does not need to be repaid.
- Extended loan terms and flexible repayment terms, with options extending up to 30 years.
- Priority funding for projects that address emerging contaminants, lead service line replacement, and sustainable, nature-based solutions through the Green Project Reserve.
- Tailored support for disadvantaged communities (DACs) including reduced interest rates and access to design and engineering grants.
Because the SRF offers low-cost loans and additional subsidies it can be an attractive financing option for municipalities, water districts, and other eligible entities across the state
The Colorado SRF Technical Assistance Program stands ready to support Colorado water managers investments in environmentally sustainable water projects. Reach out to us through this inquiry form to find out how WaterNow can help you accelerate water resilience for your community.