Solar & Battery Regulation & Incentive Programs

Drinking Water State Revolving Loan Fund

Program Overview

Category:: Financial Incentive
Program Type:: Loan Program
Implementing Sector:: State
State:: New Mexico
Eligible Storage Technologies:: Solar Photovoltaics, Yes; specific technologies not identified, Other Distributed Generation Technologies
Website:: http://www.nmfa.net/financing/water-programs/drinking-water-revolving-loan-fund/
Loan Term:: 0% to 4% with terms of 20 years following a two-year construction period
Administrator:: New Mexico Finance Authority
Applicable Sectors:: Local Government
Budget :: $8 million annually
Start Date:: 01/26/1997
Last Updated:: 03/22/2017
Funding Source: Environmental Protection Agency Capitalization Grant; additional funds from state.

Summary

The Drinking Water State Revolving Loan Fund provides low-cost financial assistance to eligible public water systems to finance the cost of repair and replacement of drinking water infrastructure, maintain or achieve compliance with the federal Safe Drinking Water Act (SWDA) requirements, and protect drinking water quality and public health.

The program offers principal forgiveness starting at 25% of project costs. Depending on determinations to be made by the New Mexico Financing Authority, additional principal forgiveness for up to a total of 75% of project costs may be awarded for communities that qualify as disadvantaged communities and certified "green projects". Green projects include green infrastructure, water conservation, energy efficiency improvements, or other environmentally innovative activities. See the website above for complete details, including the fiscal year 2017 Intended Use Plan.