The Indiana Finance Authority’s State Revolving Fund (SRF) Loan Programs finances drinking water projects in seven communities

INDIANAPOLIS – The Indiana Finance Authority (IFA) completed $76,345,874 in low-interest, federal equivalency financings in June to help multiple Indiana communities finance drinking water infrastructure improvements.

The State’s financial assistance will save these utilities an estimated total of $108.5 million in principal and interest costs, compared to open-market financing.

City of Fort Wayne

The City of Fort Wayne received financing in the amount of $13,000,000 through the DWSRF Loan Program to help fund improvements to the city’s drinking water system. This project will allow the City of Fort Wayne to complete water main improvements and lead service line replacements in their water utility’s distribution system. The project will ensure that the city is able to provide safe water to residents and businesses in the project areas.

City of Hammond

The City of Hammond received financing in the amount of $10,000,000 through the DWSRF Loan Program to help fund improvements to the city’s drinking water system. This project includes the replacement of lead service lines in their water utility’s distribution system and will ensure the city is able to maintain water service to the project areas.

Town of Flora

The Town of Flora received financing in the amount of $1,815,000 through the DWSRF Loan Program to help fund improvements to the city’s drinking water system. This project includes the replacement of lead service lines and will ensure the town is able to protect public health and provide safe water for the Flora service area.

City of Lafayette

The City of Lafayette received financing in the amount of $10,000,000 through the DWSRF Loan Program to help fund improvements to the city’s drinking water system. The Phase II project includes the continued full replacement of lead service lines in Lafayette.  The project will reduce lead in the environment and improve the safety of Lafayette’s drinking water.

City of Decatur

The City of Decatur received financing in the amount of $22,000,000 through the DWSRF Loan Program to help fund improvements to the city’s drinking water system. The project includes full replacement of lead service lines and water main improvements in the older areas of the distribution system, and water main looping.  The project will reduce lead exposure and improve operation of the system by reducing water loss.

City of Monticello

The City of Monticello received financing in the amount of $5,000,000 through the DWSRF Loan Program to help fund improvements to the city’s drinking water system. The project includes the full replacement of lead service lines in older areas of the Monticello distribution system.  The project will reduce the risk of lead exposure and improve the operation of the system by reducing water loss.

City of South Bend

The City of South Bend received financing in the amount of $14,530,874 through the DWSRF Loan Program to help fund improvements to the city’s drinking water system. The project includes the rehabilitation of the Edison Water Filtration Plant, the full replacement of lead service lines in the northwest zone of the water distribution system, and the planning and design of the North water treatment plant PFAS minimization project. The project will restore full capacity to the Edison Water Filtration Plant, protect public health by removing lead risks, and prepare South Bend to promptly address PFAS contaminants in the system.

The IFA administers the SRF Loan Programs with joint funding from the U.S. Environmental Protection Agency and the State of Indiana. SRF Loan Programs operate in all states to provide resources necessary to maintain and improve the infrastructure that protects our valuable water resources.

To learn more about the SRF program, visit www.srf.in.gov