The U.S. Environmental Protection Agency (EPA) has awarded the City of Stockton a $108 million Water Infrastructure Finance and Innovation Act (WIFIA) loan to help finance the Regional Wastewater Control Facility (RWCF) Modifications Project.
The RWCF Modifications Project replaces and upgrades aging wastewater treatment facilities, meets new permit requirements, and improves the water quality in the San Joaquin River. Scheduled for completion in 2023, the Modifications Project will modernize the RWCF to support the community and accommodate business growth, initially through 2035 with ability to expand through 2045 and beyond.
The WIFIA loan will finance 49 percent of the $222.7 million total cost of the Modifications Project. The interest rate will be 1.2 percent for a term of 30 years.
The remaining RWCF Modifications Project funds will come from a combination of market rate municipal bonds planned to be issued in Fiscal Years 2022 and 2024, and a loan from the California State Water Resources Control Board’s State Revolving Fund.
“By investing in key local wastewater infrastructure, the WIFIA loan promotes public health and environmental protections for future generations, in addition to creating good, local jobs that solidify our commitment to make Stockton the best city in America to live, raise a family, and grow a business,” shared City Manager Harry Black.
Construction updates can be found at the City of Stockton Municipal Utilities Department Modifications Project webpage, including aerial footage of construction progress between October 2019 and August 2020.