Adam RollinsThe city of Memphis will use a combined $52.1 million in financing from state and federal sources to modernize stormwater systems and improve water infrastructure.
The Tennessee Department of Environment and Conservation (TDEC) awarded $42.1 million through the state’s Clean Water State Revolving Fund Loan Program (CWSRF). The Environmental Protection Agency administered the remaining $10 million through the Water Infrastructure Finance and Innovation Act (WIFIA).
Memphis will use the CWSRF loan to address infiltration issues, correct inflow, reinstate laterals and rehabilitate manholes. In addition, the city received $2.5 million in principle forgiveness. City officials will repay the remaining loan amount over the next 20 years.
The WIFIA funds are the first loan in the EPA’s $50 million agreement to advance Memphis’ $103 million Stormwater Upgrades Project. Plans include modernizing portions of the city’s aging stormwater management system to improve resilience, protect property and reduce economic impact due to inclement weather.
The funds will allow Memphis to complete 13 projects in total. The city will rehabilitate pipes, culverts, drains, drainage ditches and detention basins. The projects will develop innovative and sustainable solutions to reduce flooding and improve water quality in the city’s underserved areas.
The CWSRF provides low-interest loans to help municipalities, utility districts and stormwater authorities plan, design and build wastewater and stormwater systems. The program has provided more than $2 billion since 1987. Similarly, WIFIA supports regional and national projects that prevent or mitigate drought, enhance water facility energy efficiency and desalinate or recycle water. The program has announced approximately $20 billion in loans since 2018.
