Colorado Water Resources and Power Development Authority
	Phone: 303-830-1550	Fax: 303-832-8205	info@cwrpda.com	1580 Logan St. 620	Denver, CO 80203

STATE REVOLVING FUNDS PROGRAM UPDATE

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DWRF SHLP SWRP WPCRF WRBP (All images on this page © BackCountry Images)

It is the policy of the Colorado Water Resources and Power Development Authority to assist local governments with financing their water and wastewater infrastructure in a manner that is flexible and cost-effective yet does not unnecessarily jeopardize the Authority’s principal or security. Please see each program description below for further details. The Authority has also developed a specific Interim Loan Policy to provide additional financing options to those communities in need.

Drinking Water Revolving Fund - In anticipation of the reauthorization of the Federal Safe Drinking Water Act with a state revolving fund mechanism to fund improvements to drinking water systems, the Colorado General Assembly, through Senate Bill 83 in 1995, created the Drinking Water Revolving Fund (the "DWRF") within the Authority. The administration of this fund is handled much like the WPCRF. Initial funding for this program came from a $6.2 million State appropriation in 1995. Under the DWRF program the Authority issues bonds to fund leveraged loans and provides the State’s required 20% match on each federal dollar. Through December 2004, the Authority has provided over $17 million to match over $97.6 million in federal grants. The subsidized loans are provided to assist public water systems in financing the cost of infrastructure needed to achieve or maintain compliance with the Safe Drinking Water Act requirements and to protect the public health objectives of the Act. In 2004, the Authority Board of Directors approved the Disadvantaged Communities Program, a reduced-interest loan program, to assist low-income communities with populations of 5,000 or less to comply with safe drinking water standards. As of December 31, 2006, the Authority had executed 89 DWRF loans representing $272 million in projects. (Return to top)

Board Approves Small Hydropower Loan Program. The Board of Directors of the Colorado Water Resources and Power Development Authority is pleased to announce the creation of a small (5 megawatts or less) hydropower loan program for 2009 ($10 million of loan funds available) that will promote a clean, renewable energy source for the citizens of Colorado. In addition, the Board has authorized $150,000 (up to $15,000 each) of matching grant funds for the evaluation and development of small hydropower projects. The Small Hydropower Loan Program will complement the renewable energy programs created by the Colorado legislature in 2007 for biofuels, ethanol, wind and solar power. The Authority has set a deadline for matching feasibility grant and loan applications for October 15, 2008.

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Small Water Resources Projects - The Small Water Resources Projects (the "SWRP") Program was developed after the passage of Senate Bill 67 in 1989. Under the statute, the Authority can expedite its procedures to assist local governments in the financing of water resource projects, defined as water management facilities or hydroelectric facilities, with loans of up to $500 million without legislative review. This process gives the project sponsor and the Authority greater flexibility in reacting to rapidly changing bond market conditions. Financial enhancements provided by the Authority under the program include funding of the debt service reserve fund, pooling multiple borrowers, and subsidizing the cost of bond issuance. As of December 31, 2006, the Authority had executed 50 SWRP loans totaling $151 million. (Return to top)

Water Pollution Control Revolving Fund - The Water Pollution Control Revolving Fund (the "WPCRF") was created within the Authority by the General Assembly under Senate Bill 50 in 1988. Under the Federal Clean Water Act Amendments of 1987, Colorado was required to convert the wastewater grant program to a revolving loan program. This statutory change authorized the Authority to participate in the financing of publicly-owned wastewater treatment works with the Water Quality Control Division and the Division of Local Government. Under the WPCRF program the Authority issues bonds to fund leveraged loans and provides the State's required 20% match on each federal dollar. Through December 2004, the Authority has provided approximately $35.8 million to match over $187.6 million in federal grants. The subsidized loans are provided to finance wastewater treatment works (plants, sewers, etc.) and nonpoint source pollution abatement projects. As of December 31, 2006, the Authority, by leveraging the federal funds, had executed 139 WPCRF loans representing over $692 million in projects. (Return to top)

Water Revenue Bonds Program - In addition, the Authority also operates the Water Revenue Bond Program to provide funds up to $500 million, without legislative review, to entities for water and wastewater projects not eligible under the above programs. The Authority subsidizes the costs of bond issuance for the program. Fifteen loans, representing nearly $385 million in projects, have been executed as of December 31, 2006.

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