The Environmental Protection Agency has approved two new loans, totaling $640 million, for a major water-supply infrastructure program in western Oregon.
The loan approvals, announced on Aug. 19, are part of EPA’s Water Infrastructure Finance and Innovation Act, or WIFIA, program and will help finance the $1.3-billion, multi-year Willamette Water Supply System program.
A $388-million loan is going to the Tualatin Valley Water District and a $251-million loan to the city of Hillsboro, Ore., which have teamed up on the project. Andrea Watson, spokesperson for the water district, said its loan closed on Aug. 2 and the Hillsboro loan closed on Aug. 16.
EPA’s action represents the first time that it has approved more than one WIFIA loan for a project.
The city of Beaverton, Ore., on July 1 joined the water district and Hillsboro as another partner in the project but it isn’t involved in the loans.