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Stimulus Information SRF Water Infrastructure Programs

under the American Recovery and Reinvestment Act of 2009

News Release:

State releases second round of stimulus eligible water projects

Governor Daniels directs Indiana Finance Authority to award grants to 43 Indiana communities for wastewater and drinking water projects

 

 

Notifications from the Indiana Finance Authority regarding Recovery Act funding for wastewater and/or drinking water activities will be distributed via the State Revolving Fund Loan Program's Email Listserv.   To subscribe to the Listserv, click here.

General Recovery Act Information

Requirements of the Recovery Act - Information and Guidance

    • Reporting Requirements of the Recovery Act
  • Certification Required by Section 1511 of the American Recovery and Reinvestment Act

    What is the Recovery Act and what is the State's share of the federal funding?

    On February 17, 2009, the American Recovery and Reinvestment Act of 2009 (Recovery Act) became law. The Recovery Act will provide the Indiana Finance Authority (IFA) with $94,447,485 to fund Wastewater infrastructure projects and $27,212,000 to fund Drinking Water infrastructure projects.

    What are the general requirements to be considered for Recovery Act funding?

    All standard SRF Loan Program requirements will apply. The following will also be required to meet the requirements of the Recovery Act:

    • Because Recovery Act funding is limited and the Recovery Act requires that only the most "shovel ready" projects be funded.
    • Participants that we notified in April must design, permit, bid and close financings by September 15, 2009.
    • Participants that we notified in July must design, permit, bid and close financings by October 15, 2009. 
    • Construction on the project must commence prior to December 1, 2009.
    • Federal Davis-Bacon Wage Rages and Disadvantaged Business Enterprise (DBE) rules apply.
    • Projects must use American iron, steel and manufactured goods.
    • Monthly progress reports will need to be filed with the SRF Loan Program.

    What type of assistance is available?

    Fixed-Rate Loans (20-year terms)

    • All communities determined to meet SRF Loan Program requirements will be eligible for a share of fifty percent of the Recovery Act funding made available to the IFA. Each community's loan will include a portion at zero percent, which will be capped at an amount to be determined after all eligible participants have been identified. Each community may borrow the additional funds needed to complete their project from the SRF Loan Program at their then current below-market interest rate in which they would traditionally qualify.

    Principal Forgiveness

    • Communities that have exceedingly high monthly user rates (minimum threshold to be determined after all eligible participants have been identified) may qualify for principal forgiveness. The balance of a community's project may be funded with an SRF Loan Program loan at their then current below-market interest rate.
    • Communities must:
      • have a completed Preliminary Engineering Report (PER) filed with the SRF Loan Program by March 13, 2009;
      • meet the construction deadlines set forth above; and
      • propose a project promoting the regionalization of services.

    Where can I get more information about SRF loans?

    For more information about the SRF Loan Program process, please contact:

    To receive the SRF Loan Program's latest announcements, please subscribe to the SRF listserv.

    Frequently Asked Questions

    Q:  Whhat is a DUNS Number and the CCR and why does SRF need them?

    A:  A Data Universal Numbering System (DUNS) number is a unique nine-digit sequence recognized as the universal standard for identifying businesses. The federal government requires all recipients of federal funds under the American Recovery and Reinvestment Act to register with the Central Contractor Registry (CCR) and obtain a CCR number. A DUNS number is required to reigster with the CCR. SRF needs CCR numbers to meet federal requirements.

     

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