CORPS WATER INFRASTRUCTURE FINANCING PROGRAM
Michael Connor, assistant secretary of the Army for Civil Works, signs the notice of funding availability (NOFA) for CWIFP surrounded by USACE employees and stakeholders at Anderson Dam in Morgan Hill, California, June 21, 2023. PHOTO COURTESY OF VALLEY WATER
USACE Launches $7.5 Billion Financing Program The Corps Water Infrastructure Financing Program has $7.5 billion in financing available to support non-federal dam infrastructure investments across the United States.
T
he U.S. Army Corps of Engineers (USACE) has established a new federal credit program – referred to as the Corps Water Infrastructure Financing Program (CWIFP) – that will provide credit assistance to non-federal dam safety projects. CWIFP, opened to the public in September, is providing lowcost, long-term, flexible financing options to support investments in the nation’s non-federal dams. This program will accelerate non-federal investment and enable
BY NATHAN CAMPBELL
26 I AMERICA’S ENGINEERS
significant improvements to the nation’s dam infrastructure. “Aging infrastructure causes significant challenges to all levels of government, in particular dam infrastructure. This program will have a huge impact on the nation’s dam infrastructure, and will help save local ratepayers and taxpayers by providing long-term, low-cost financing,” said Lt. Gen. Scott A. Spellmon, USACE commanding general. There are more than 88,000 non-federal dams in the United States, and most of these dams are on average more than 50
years old. According to a recent Association of State Dam Safety Officials (ASDSO) report titled, “The Cost of Rehabilitating Dams in the U.S.: A Methodology and Estimate,” the number of high hazard-potential dams, where loss of life is probable should the dam fail, has increased almost 20% over the past 10 years, to more than 16,000. From January 2005 to June 2013, states reported 173 dam failures and 587 “incidents” representing episodes that, without intervention, would likely have resulted in a failure. To help tackle this challenge, USACE published the final implementation rule in the Federal Register (www.federalregister. gov/documents/2023/05/22/2023-10520/ credit-assistance-and-related-fees-for-water-resources-infrastructure-projects) in May 2023 and now, through the publication of the first CWIFP Notice of Funding Availability (NOFA) (www.federalregister. gov/documents/2023/09/20/2023-20286/ notice-of-funding-availability-for-applications-for-credit-assistance-under-the-corps-water), USACE is ready to accept applications at www.usace.army.mil/ CWIFP for credit assistance. “The Corps Water Infrastructure Financing Program provides a new and significant tool that can be used to keep the nation’s infrastructure resilient and dependable for multiple generations. As we deal with unprecedented climate challenges that require robust and effective infrastructure, this new financing program will enable continued investment by our local communities in their infrastructure,” said Michael Connor, the assistant secretary of the Army for Civil Works. As detailed in the NOFA, this competitive solicitation will be open for 90 days, and is a no-cost opportunity for non-federal entities to request financing from USACE to support safety projects
