Indiana Finance Authority State Revolving Fund Loan Program ACEC Indiana Funding Sources Workshop August 6, 2015 William Harkins State Revolving Fund Program.

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Indiana Finance Authority (IFA)

State Revolving Fund Loan Program

Working with local, state, and national partners to provide resources and technical assistance to aid rural communities in shaping their visions for economic.

Presentation transcript:

Indiana Finance Authority State Revolving Fund Loan Program ACEC Indiana Funding Sources Workshop August 6, 2015 William Harkins State Revolving Fund Program Director Indiana Finance Authority State Revolving Fund 100 N. Senate Avenue, Room 1275 Indianapolis, Indiana

Indiana Finance Authority State Revolving Fund Loan Program Assistance Provided Clean Water & Drinking Water ● Low Interest Loans Current rates 2.00% to 2.74% ● Additional Interest Rate Reduction Climate/Extreme Weather Green / Sustainable Projects Non-point Source Projects ● Grants (Limited to low to moderate income areas) $ 10 Million in Clean Water in SFY 2016 $ 3 Million in Drinking Water in SFY 2016 $ Million in Clean Water $ 21.7 Million in Drinking Water

The Clean Water SRF Program and the Drinking Water Program are capitalized by Federal Capitalization Grants and Proceeds of Bonds (including 20% State Match bonds) The SRF Programs have received over $1.23 billion in Federal Capitalization Grants through Federal fiscal year 2015 Historical Federal Capitalization Grants ($mn) Federal Grants by Fiscal Year Federal FYClean WaterDrinking Water $295,901, ,020,160$25,371, ,452,9728,687, ,454,2999,105, ,916,5318,989, ,645,9889,159, ,128,8668,955, ,919,9769,398, ,939,2819,749, ,969,58111,201, ,135,42712,166, ,793,85611,484, ,472,65211,367, ,399,54811,367, ARRA 94,447,50027,212, ,104,00022,638, ,588,00015,709, ,061,00014,970, ,176,00014,046, ,790,00014,348, ,617,00014,253,000 Total $959,934,353$270,179,100 Indiana Finance Authority State Revolving Fund Loan Program SRF Program History Federal Capitalization Grants

Clean Water SFY 2015SFY 2014SFY 2013SFY 2012 Number of Loans Total Amount208,504,910 88,885,400304,541,000139,956,000 Savings55,269,96729,804,59178,838,13548,499,096 Drinking Water SFY 2015SFY 2014SFY 2013SFY 2012 Number of Loans Total Amount24,902,00014,755,40139,439,00058,737,612 Savings12,174,7689,515,80315,320,41917,126,814 Grand Total SFY 2015SFY 2014SFY 2013SFY 2012 Number of Loans Total Amount233,406,910103,640,801343,980,000198,693,612 Savings67,444,73539,320,39494,158,55465,625,910 Indiana Finance Authority State Revolving Fund Loan Program SRF Program Results

 461 Clean Water loans closed  217 Drinking Water loans closed  Over 300 Communities served  Over $3.8 Billion in loan closings  Over $3.4 Billion disbursed to communities  Over past 4 years, $267 Million interest savings Indiana Finance Authority State Revolving Fund Loan Program Program Results as of June 30, 2015

Indiana Finance Authority State Revolving Loan Programs Largest Individual Loan ▪ City of Terre Haute, $139,371,000. ▪ Closed on 12/13/2012. ▪ 2.14%. Smallest Individual Loan ▪ Town of Lewisville, $55,000. ▪ Closed on 6/28/2002. ▪ 3.50%. Largest Collective Borrowings ▪ City of Fort Wayne, $286,369,005 ▪ City of Indianapolis, $514,945,388

The SRF State Fiscal Year 2016 Project Priority Lists (Q1) identify $401,334,888 in infrastructure needs. Identified Needs SFY 2016 ■ Drinking Water ■ Funding Allocation ■ $61,885,433 ■ $40 Million (15 projects) ■ Clean Water ■ $203,163,603 Large Systems ■ $50 Million (5 projects) ■ $136,285,852 Small Systems ■ $100 Million (21 projects) To view the Project Priority Lists: Indiana Finance Authority State Revolving Loan Programs SRF 2016 Priority Lists

8 Indiana Finance Authority State Revolving Loan Programs Newport Wastewater Project No treatment, 180 failing onsite wastewater disposal systems. Discharging to the Little Vermillion River. Completed Project New collection system New WWTP

9 Indiana Finance Authority State Revolving Loan Programs Newport Wastewater Project SRF Additional Subsidy:$600,000 Rural Development Loan:$1,375,000 Rural Development Grant:$3,450,000 Community Development Block Grant:$500,000 Total Project Cost$5,925, % Grant