Carter Announces $275M EPA Loan to Modernize New Orleans Water Infrastructure
NEW ORLEANS, L.A. – Today, representatives from Congressman Troy A. Carter Sr.’s office joined an event announcing a $275 million Water Infrastructure Finance and Innovation Act (WIFIA) loan to the Sewerage and Water Board of New Orleans (SWBNO) to modernize the city’s aging and storm-damaged sewer system. U.S. Environmental Protection Agency (EPA) Assistant Administrator for Water Radhika Fox, New Orleans Mayor LaToya Cantrell, and other city and state officials were also in attendance. With EPA’s WIFIA financing, this project will help protect historically underserved communities from the impacts of storm events and climate change.
“This is great news for the city and people of New Orleans,” said Congressman Troy A. Carter Sr., who represents much of the city in Congress. “Here in Louisiana, we depend on our critical water infrastructure to keep us safe and healthy, especially when the storms come. It is long past time that we invest in the safety, longevity, and resiliency of our water and sewage management systems, and I am proud that the federal government is a strong partner on this critical issue. With this $275 million WIFIA loan along with the critical funds from the recently passed Bipartisan Infrastructure Law, we can make the needed investments for lasting improvements in our water infrastructure.”
Congressman Troy Carter was proud to vote for the Infrastructure Investment and Jobs Act – the infrastructure package – which President Biden signed into law last month. In the next few weeks Louisiana will already see results from that policy, as $101 million dollars will soon come to the state for drinking water system improvements. This funding accounts for fiscal year 2022, and Louisiana can expect to receive similar amounts of funding for water infrastructure annually over the next four years.
EPA’s WIFIA loan will help finance the SWBNO’s comprehensive Sewer System Evaluation and Rehabilitation Program. This program will undertake over 160 projects to modernize aging and storm-damaged sewer pipelines throughout the city.
“Earlier this year, President Biden visited New Orleans and heard firsthand about the challenges with water infrastructure. Today, we are proud to partner with the city through WIFIA,” said EPA Assistant Administrator for Water Radhika Fox. “This low-cost loan will save the city money while supporting critical upgrades to bolster climate resiliency and better protect vulnerable communities. This project illustrates the critical water infrastructure improvements that will be achieved under the Bipartisan Infrastructure Law.”
These 160 projects focus on climate resiliency and flood control, particularly reducing inflow and saltwater infiltration, preventing breaks and leaks in sewer lines, and supporting existing infrastructure during weather events. Together, these projects will vastly improve the city’s sewer system infrastructure, help protect nearby waterbodies and reduce the risk of flooding in neighborhoods – especially historically underserved communities.
The $275 million WIFIA loan will finance nearly half of the $561 million project costs. Recognizing both the need for critical infrastructure investment and the water affordability challenges facing the community, the Sewerage and Water Board of New Orleans took advantage of the WIFIA program’s flexible repayment terms to save approximately $100 million. Project construction and operation are expected to create an estimated 1,800 jobs and construction is expected to be completed in 2025.
A fact sheet about this New Orleans loan is available online. More details about the WIFIA program here.
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