Ballard Spahr Represents City of Philadelphia in Obtaining EPA Water Infrastructure Loan
Acting as the City of Philadelphia’s bond counsel for its Water and Wastewater Revenue Bond program, Ballard Spahr assisted the City in its first Water Infrastructure Finance and Innovation Act (WIFIA) loans from the EPA.
The EPA has announced a $340 million financing commitment to improve Philadelphia’s drinking water infrastructure, an initiative that will include replacing 160 lead service lines and 15 miles of water mains throughout the city. The WIFIA loan will start the project with an initial investment of $19.8 million.
The EPA estimates this first WIFIA loan will save the city approximately $4 million, and its related construction and operation are expected to create approximately 100 jobs.
Valarie J. Allen, Practice Co-Leader for Ballard Spahr’s Public Finance Group, led the Ballard Spahr team on this matter.
For further information, please see the EPA’s press release.
For media inquiries, please contact Will Ashenmacher at 612.371.5792.