Water project closes on financing & gains new partner
The City of Beaverton recently joined the Willamette Water Supply Program as a new partner/owner.
It will receive up to five million gallons of water per day when the system is operational in 2026.
Meanwhile the City of Hillsboro and Tualatin Valley Water District closed on two low interest loans from the Environmental Protection Agency's (EPA) Water Infrastructure Finance and Innovation Act (WIFIA).
It's the first time WIFIA has provided financing to two partners on a single project.
The loans total nearly $640 million and will save rate payers millions of dollars in financing costs.
The WIFIA loans will finance about half of the $1.3 billion project.
For more information on the project, turn to the Willamette Water Supply Program's website.