Community Success Stories
Port of Cascade Locks Opens New Light-Industrial Park
An $850,000 loan from the Port Revolving Loan Fund helped the Port of Cascade Locks Open the Herman Creek Facility
This loan program funds the design and construction of public infrastructure needed to ensure compliance with the Safe Drinking Water Act or the Clean Water Act.
The public entities that are eligible to apply for the program are:
The proposed project must be owned and operated by a public entity as listed above. Allowable funded project activities may include:
To be eligible for funding:
Loan and grant amounts are determined by a financial analysis of the applicant's ability to afford a loan (debt capacity, repayment sources and other factors).
Program guidelines, project administration, loan terms and interest rates are similar to the Special Public Works Fund program. The maximum loan term is 25 years or the useful life of the infrastructure financed, whichever is less. The maximum loan amount is $10 million per project through a combination of direct and/or bond funded loans.
Loans are generally repaid with utility revenues or voter approved bond issues. A limited tax general obligation pledge also may be required. "Credit worthy" borrowers may be funded through the sale of state revenue bonds.
Grant awards up to $750,000 may be awarded based on a financial review.
An applicant is not eligible for grant funds if the applicant's annual median household income is equal or greater than 100 percent of the state average median household income for the same year.
Funding for Technical Assistance
The Infrastructure Finance Authority offers technical assistance financing for municipalities with populations of less than 15,000. The funds may be used to finance preliminary planning, engineering studies and economic investigations.
Technical assistance projects must be in preparation for a construction project that is eligible and meets the established criteria.
Applications for funding are accepted year-round. The following outlines the steps in the application process:
Step 1: Contact your Regional Development Officer. A Project Notification and Intake form will need to be completed.
Step 2: Submit the Project Notification and Intake form. The IFA reviews the form to make sure eligibility for the funding program has been met.
Step 3: Invitation to apply. The IFA will invite an applicant to apply based on the review of the Project Notification and Intake form.