Indiana Funding Programs
| Financing from the Indiana Finance Authority’s (IFA) Drinking Water State Revolving Fund (DWSRF) Loan Program may be used to construct drinking water infrastructure. Eligible projects include drinking water source projects, treatment facilities, storage facilities and distribution systems. Green infrastructure projects or projects to improve water or energy efficiency are encouraged. | Keywords: drinking water Intended Applicant(s): Local governments, regional water districts and non-profit organizations Funding Det/Terms/Cap: Loans | Interest rates are at or below 90% of average AAA-rated general obligation bond Municipal Market rate; rates vary quarterly | Interest rate discounts for 1) communities with certain median household incomes (MHI) and user rates, and 2) green projects that are eligible for Green Project Reserve Incentive, which is a 0.5% interest rate discount | Loan term is 20 years Application Process: Deadline/acceptance basis: June 30 for application and 15 days before pre-closing for bids and financial due diligence, year round | Submit application to be added unranked to the state’s next fiscal year first quarter project priority list (PPL); submit a preliminary engineering report | If project is among the highest-ranked projects, open the bidding process and submit financial due diligence Website: https://www.in.gov/ifa/srf/drinking-water/ Contact Information: Shelley Love– DWSRF Loan Program Administrator, 317-232-4396, slove@ifa.in.gov |
Organization: Indiana Finance Authority (IFA)
Program: Drinking Water State Revolving Fund (DWSRF) Loan Program
| Financing from the Indiana Finance Authority’s (IFA) Wastewater State Revolving Fund (WWSRF) Loan Program may be used to complete water quality protection projects. Eligible projects include treatment facility improvements, sewer line projects, combined sewer overflow corrections, and infiltration projects. Stormwater projects without water quality benefits are ineligible. Green infrastructure projects or projects to improve water or energy efficiency are encouraged. | Keywords: wastewater, stormwater Intended Applicant(s): Local governments, regional water/sewer districts and conservancy districts Funding Det/Terms/Cap: Loans | Interest rates are at or below 90% of average AAA-rated general obligation bond Municipal Market rate; rates vary quarterly | Interest rate discounts for 1) communities with certain median household incomes (MHI) and user rates, and 2) green projects that are eligible for Green Project Reserve Incentive, which is a 0.5% interest rate discount | Loan term is 20 years Application Process: Deadline/acceptance basis: June 30 for application and 15 days before pre-closing for bids and financial due diligence, year round | Submit application to be added unranked to the state’s next fiscal year first quarter project priority list (PPL); submit a preliminary engineering report | If project is among the highest-ranked projects, open the bidding process and submit financial due diligence Website: https://www.in.gov/ifa/srf/wastewater/ Contact Information: Shelley Love– WWSRF Loan Program Administrator, 317-232-4396, slove@ifa.in.gov |
Organization: Indiana Finance Authority (IFA)
Program: Wastewater State Revolving Fund (WWSRF) Loan Program
| The Indiana Office of Community & Rural Affairs’ (OCRA) Community Block Development Grant (CDBG) funds a variety of projects that help sustain rural communities and help improve the quality of life of citizens in rural communities. Within this program, there are special programs for community facilities, stormwater improvements, drinking water/wastewater, and more. Grant money from this program may also be used to reduce utility rates for low- to moderate-income communities. | Keywords: drinking water, wastewater, stormwater Intended Applicant(s): Local governments | Rural areas with a population < 50,000 | Communities with low- to moderate-income percentages Funding Det/Terms/Cap: Grants | Maximum grant is $700,000 for drinking water/wastewater projects and $500,000 for stormwater projects | Matching funds: a 20% local match is required for drinking water/wastewater projects, a 10% local match is required for stormwater projects Application Process: Deadline/acceptance basis: Deadline based on project type and round of funding | Two-step application process: Submit letter of intent and full application by deadline | Note: Full application is complex and more applications are received than projects are funded Website: https://www.in.gov/ocra/cdbg/ Contact Information: Aletha Dunston–CDBG Program Manager, 317-775-4667, adunston@ocra.in.gov | Or visit website to find community liaison |
Organization: Indiana Office of Community & Rural Affairs (OCRA)
Program: Community Block Development Grant (CDBG)