Iowa s SRF: Options for Financing Green Infrastructure. Patti Cale-Finnegan Iowa Department of Natural Resources

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1 Iowa s SRF: Options for Financing Green Infrastructure Patti Cale-Finnegan Iowa Department of Natural Resources

2 Iowa Department of Natural Resources Program planning and prioritization Project planning and permitting Environmental review Federal compliance Iowa Finance Authority Financial management Bond issues Loan processing Loan disbursements

3 LOW-INTEREST LOANS FOR Water and wastewater infrastructure only

4 Present Planning and Design Water and Wastewater Onsite Septic Systems Soil, Sediment, and Nutrient Management Lake and Wetland Restoration Brownfield Cleanup Energy and Water Efficiency Urban Stormwater Landfill Closure Source Water Protection Sponsored Projects

5 Loan Totals Per Fiscal Year

6 Cumulative Amount Funded

7 Nonpoint Amounts by Program

8 Storm Water and Green Infrastructure Several tools and programs Can assist public and private borrowers Bottom line: Must include water quality

9 Traditional Storm Water Can finance municipal storm sewer systems as part of combined sewer separation Water quality benefit is in eliminating CSOs and SSOs Borrow through regular CWSRF program interest rate 1.75%

10 Green Infrastructure - Public Water quality benefit in lowering volume and treating storm water Interest rate 1.75% Loan forgiveness up to 30% offered for some projects Some projects have proceeded without additional subsidization

11 Dubuque Bee Branch Watershed Massive public works project with multiple benefits Water quality, storm water management, flood control, community amenity, wildlife habitat Upstream detention, downstream storage borrowed $10 million

12 Stream restoration is daylighting a storm sewer buried 100 years ago stream corridor designed for water quality as well as quantity $29 million CWSRF green infrastructure loan with 20% loan forgiveness

13 Sponsored Projects Inspiration from Ohio Needed legislative change to Iowa s municipal finance law Pilot project with the City of Dubuque

14 Typical CWSRF Loan City borrows $1,000,000 for sewer project City makes annual principal and interest payments on loan for 20 years With interest and fees, the city repays $1,227,000 over the life of loan Loan Costs (interest and fees), $227,000 Wastewater principal, $1,000,000

15 $1,200, $1,000, $800, $600, $400, Loan Costs (interest and fees) Sponsored project principal Wastewater principal $200, $- $1 million CWSRF loan $1 million loan with sponsored project

16 Kingsley Sioux City Sioux City Spencer Ruthven Laurens Albert City Northwood Hampton Postville Monona Monona Rockwell City Dyersville Dubuque Lake View Fort Dodge Fairbank Dubuque Epworth Lohrville Fort Dodge Kiron Ames Newhall Cedar Rapids Clinton Granger Calamus Grimes WRA North Liberty WRA Prairie City WRA Durant Davenport Buffalo Wellman Kalona Keota Ottumwa Fairfield Mt. Pleasant Blakesburg New London DNR Seymour Donnellson Fort Madison Keokuk Fort Madison Keokuk

17 City of Monona, NE IA Runoff from gravel parking lot at municipal pool polluting creek in Turkey River Watershed Permeable paving infiltrates storm water and reduces runoff Wastewater loan $2.75 million Sponsored project amount $245,000

18 City of Sioux City, NW IA Restored native prairie and oak savanna in city park Stabilized eroding streambanks on creek leading to Missouri River Multiple wastewater loans Sponsored project amount $1.4 million

19 City of Fort Dodge, Central IA Two projects Stream corridor restoration in city park with storm water management Support for Badger Lake water quality improvement efforts Loan amounts $31 million Sponsored project budget approx. $2.1 million

20 Program Outcomes Demonstrate nonpoint source water quality practices such as green infrastructure

21 Program Outcomes Encourage watershedbased planning and partnerships

22 Program Outcomes Build technical expertise in Iowa s design and construction community

23 Patti Cale-Finnegan, Iowa DNR SRF Coordinator