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Two Coachella Valley Water District (CVWD) stormwater projects have been selected to receive Environmental Protection Agency (EPA) federal loans to reduce flood risk and create a safer community. The two projects were part of a total of 39 projects selected nationally in the highly competitive process.
The funds have been made available through the EPA’s Water Infrastructure Finance and Innovation Act (WIFIA). The WIFIA loans for the 39 selected projects total upwards of $5 billion. The funds will help to finance over $10 billion in water infrastructure investments and create up to 155,000 jobs.
Selected by the EPA for the loans were CVWD’s Coachella Valley Stormwater Channel Improvement Project and the North Indio Flood Control Project.
“Both of these projects are part of our ongoing commitment to reducing flood risk in the Coachella Valley to protect both life and property,” said Jim Barrett, CVWD general manager. “These loans will allow us to move forward as quickly as possible with this important work.”
The Coachella Valley Stormwater Channel Improvement Project involves bringing the channel up to Federal Emergency Management Agency (FEMA) and CVWD design standards and it will reduce flood risk to the surrounding areas. The approximately $22 million loan from the EPA for this project will aid in providing protection to life and property during 100-year flood events and will help ensure the reliability of Coachella Valley’s stormwater protection system.
The second project – the North Indio Flood Control Project – will allow for the design and construction of a regional flood conveyance channel to convey stormwater flows from Sun City Palm Desert development to the Sun City Shadow Hills development. Stormwater flows will ultimately connect to the Coachella Valley Stormwater Channel thereby reducing the flood risk to nearby communities and will remove flood insurance requirements for residents in the area. The project has been selected to receive a nearly $29 million loan.
The WIFIA federal loan and guarantee program – established by the Water Infrastructure Finance and Innovation Act of 2014 — aims to accelerate investment in the nation’s water infrastructure by providing long-term, low-cost supplemental loans for regionally and nationally significant projects. Both loans to CVWD are contingent on a final review process by the EPA.
