Infrastructure Development Report - New Mexico Environment ...

PROGRAM DETAILS
RURAL INFRASTRUCTURE REVOLVING LOAN PROGRAM (RIP)
The Rural Infrastructure Revolving Loan Program provides
financial assistance to mutual domestic associations,
water and sanitation districts, municipalities (population <
20,000) and counties (population < 200,000) for the construction
or modification of water, wastewater, and solid
waste facilities. The maximum loan amount is $2,000,000
per entity per fiscal year.
The interest rate was lowered in October of 2012 from
3% to 2.375% and a repayment schedule of up to twenty
years is allowed. This will allow for more communities to
accomplish essential infrastructure improvements.
De Baca County Transfer Station RIP Project 2012
Recent construction projects funded include a new well,
water system improvements (including tanks, meters, and
lines), a SCADA system, new wastewater treatment plant
pond liners, arsenic filtration/treatment systems, purchase
of a water well, and a solid waste transfer station. As of
December 31st, 2012, CPB has 12 active RIP loans in construction,
totaling $5,692,832. There are currently 94 loans
in repayment with a loan balance of $14,572,195.
CLEAN WATER STATE REVOLVING LOAN FUND PROGRAM (CWSRF)
Through the Clean Water State Revolving Fund program,
NMED maintains a revolving loan fund to provide a
source of low-cost financing for a wide range of
wastewater and storm drainage projects that protect surface
and ground water quality. Funds may also be used
for projects that control non-point source water pollution,
such as solid waste facilities and septic tank systems.
The CWSRF program provides very attractive low interest
loans (3% - 0%) that spread project costs over a repayment
period of up to twenty years. Repayments are cycled
back into the fund and used to pay for additional clean
water projects. Placement on the annual Integrated Projects
Priority List is the first step in obtaining CWSRF funding
and the applications are solicited each April.
Cuba Aeration Basin CWSRF Project 2012
CWSRF FACTS IN BRIEF…
CPB recently executed two new CWSRF base construction
project loan agreements as of December 31, 2012.
The agreements were (1) with San Juan county for an
$86,000 loan at 3% interest and a grant of $90,000, and (2)
with the City of Las Vegas for a $356,000 loan at 0% interest
and a grant of $484,000.
CPB is currently performing oversight of 8 CWSRF base
construction project loans with an outstanding loan balance
of $25,698,539 and an outstanding grant balance of
$3,487,211, as well as ARRA loan/grants with an outstanding
balance of $79,669. There are also 44 loans in repayment
that are currently being serviced with an outstanding
principal of $142,996,782.
See the following page for more detail on the 17 ARRA
projects. that were previously funded.
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