The U.S. Environmental Protection Agency is awarding two sizable loans that will be used to help pay for $1.3 billion in Willamette Water Supply System improvements.
One loan for $388 million is being awarded to the Tualatin Valley Water District, and the other for $251 million is going to the city of Hillsboro. The money will go toward construction of intake facilities, over 30 miles of pipeline, a water treatment plant and two storage reservoirs.
The program calls for the expansion of the existing municipal raw water intake facility on the Willamette River in Wilsonville, along with construction of a new water treatment plant in Sherwood. The former will be built between 2020 and 2024, while the latter is scheduled to be built between 2022 and 2025.
The U.S. Army Corps of Engineers and Oregon Department of State Lands also have approved the project’s environmental permits, while land use permitting is in progress for various elements.
“The benefits significantly reduce the rate impacts to our customers,” Tualatin Valley Water District CEO Tom Hickmann stated in a press release, “while simultaneously helping provide an additional water supply that results in protecting public health with a reliable drinking water source and fueling the economy with jobs now and in the future.”
The EPA has estimated the two WIFIA loans will save the water district an estimated $138.4 million and the city of
Hillsboro an estimated $125.2 million when compared with typical bond financing terms.
