CIFA Releases Fact Sheet on SRF Funding of Green Projects
Today (5/26), the Council of Infrastructure Financing Authorities (CIFA) released the first in a series of new fact sheets about the Clean Water and Drinking Water State Revolving Funds (SRFs) – SRF Mythbuster: SRF Funding of Green Projects. Congress is showing a lot of interest in substantially increasing the Federal investment in infrastructure funding (see the House Committee on Energy & Commerce hearing on 5/25) and the SRFs are a possible/likely organizational framework for this increased infrastructure funding.
Some takeaways from this fact sheet include:
- Based on cumulative appropriations between 2009 and 2020, every Clean Water SRF has exceeded the federal mandate to spend 10% of federal funding on green projects, also known as the Green Project Reserve. Some SRFs have exceeded the mandate by more than 100%.
- Since the green project mandate was established in 2009, the Clean Water SRFs have spent more than $8.6 billion in green projects – 40% of total federal funding during that time frame.
- Since 2009, the Drinking Water SRFs have spent more than $1.9 billion in green projects – 14% of total federal funding during that time frame. That’s without a mandate and with fewer eligible projects.
The Clean Water and Drinking Water SRFs fund water infrastructure projects, including green projects, based on state and local priorities, to increase protection for public health and the environment. As demand for green projects grows, so will SRF funding of green projects. More information about CIFA can be found here.
