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Financing Options for Future Infrastructure Projects
The need for infrastructure improvements is never ending. Roads and sewer systems require maintenance, buildings need upkeep, renovation or complete overhauls, and plans for facility upgrades are never far from mind. As is often the case, the need is always there but what about the financing to help cover the hard costs of sound infrastructure?
WLC is often charged with assisting our clients in developing funding strategies and securing financing for projects. We’ve come to learn that many clients don’t realize that there are financing options available, in and outside of Wyoming, to help move public and private infrastructure projects from plan to completion.
Here are just a few of the financing resources available:
Wyoming Business Council
Business Ready Community Grant and Loan Programs: Provides financing for publicly owned infrastructure that serves the needs of businesses and promotes economic development within Wyoming communities. Click here to view specific requirements and deadlines.
Community Development Block Grants: The Wyoming Business Council administers anywhere from $2.2 million to $3.75 million in these federal funds from the U.S. Department of Housing and Urban Development. Wyoming is given broad authority to design and structure a program to meet local community and economic development needs. However, any project funded with CDBG funds must meet one of three U.S. Housing and Urban Development-imposed national objectives, which include:
- – Benefit to low-and moderate-income families.
- – Elimination of slums and blight.
- – Projects which meet an urgent community development need that pose a serious and immediate threat to the health or welfare of the community.
United States Department of Agriculture
Rural Development: Forges partnerships with rural communities, funding projects that bring housing, community facilities, business guarantees, utilities and other services to rural America. From Community Facilities to Water and Environmental Programs and projects in between, this federal Loan and Grant Assistance Program is a resource for Wyoming’s rural infrastructure needs.
Office of State Lands and Investments
Mineral Royalty Grant Program: awards grants to alleviate an emergency situation which poses a direct and immediate threat to public health, safety or welfare; to comply with federal or state mandates; or to provide an essential public service.
Municipal Solid Waste Facilities Cease and Transfer Program: awards grants and loans for Capping of a closed landfill. Other closure related expenses including engineering, geological and other professional services. Construction or acquisition of appropriate solid waste transfer facilities and equipment, including acquisition of real property
The Clean Water State Revolving Fund (CWSRF): awards loans for sanitary sewer treatment and collection, storm water control, landfill water pollution control, and other water pollution control projects.
The Drinking Water State Revolving Fund (DWSRF): awards loans for drinking water systems, including source protection, treatment plants, storage tanks, transmission and distribution lines, and other drinking water related projects.
Capital Construction Loan (CCL) Program: awards loans to assist cities, towns, counties, community college districts and school districts fund infrastructure projects that do not have many other funding options. The CCL program also awards loans for road and street projects, but those are limited to cities, towns and counties.
Loan funds can be used for the following purposes:
- – Purchase of land, buildings, and improvements associated with capital construction
- – Applicant will be responsible for ensuring an appraisal is completed if purchasing land or existing building(s)
- – Renovation or upgrade of existing infrastructure
- – Planning and construction
More information on all of the grant and loan programs offered by the Office of State Lands and Investments can be found here – http://lands.wyo.gov/grantsloans.
Wyoming Water Development Commission: Offersseveral programs that provide for the planning, selection, financing, construction, acquisition, and operation of projects. This can include projects for the conservation, storage, transmission, supply, and use of water, necessary in the public interest to develop and preserve Wyoming’s water and related land resources.Find more information here.
If one of these programs stands out but you’re not sure how to start or if your project may apply, or you need another option, WLC can help. In addition to our civil engineering, land surveying, and materials testing services, we’re proud to offer funding strategy and grants writing and administration expertise at the local, state, and federal levels. One of our biggest strengths is identifying appropriate and realistic funding sources for specific projects and executing a plan to secure the financing. Annually, we secure $5-10 million in grants and low interest loans for our clients’ projects, including $6.7 for the Town of Mills alone since 2006.
Want to learn more about financing your upcoming projects and to speak with our Funding Strategist and Grants Writer? Contact WLC today!