Public Works Board now accepting loan applications
New funding available for construction, pre-construction and emergency loans for public infrastructure projects
OLYMPIA, Wash. –The Washington State Public Works Board is accepting applications for infrastructure construction and pre-construction loans, now through midnight, July 12. Cities, counties, special purpose districts and quasi-municipal organizations may apply. Infrastructure systems eligible for the very low-interest state loans include domestic water, sanitary sewer, solid waste and recycling, roads and streets, bridges and storm water.
Approximately $68 million is available for construction loans, and $17 million for pre-construction loans. A new application cycle will open every six months for construction loans and every three months for pre-construction loans, until all of the appropriated funds are exhausted.
This is the first loan application cycle of the new 2019-21 state budget. Funds are awarded to projects that pass through the rating threshold based on a competitive ranking process. Depending on the number and qualifications of applicants, there is no guarantee funds will be available for future loan cycles.
Rating and ranking for construction and pre-construction applications will begin July 15 and awards are expected in August.
Emergency construction loan applications remain open on a first-come, first-served basis, until all $4.7 million set aside for this program is exhausted.
Visit the Public Works Board financing webpage for more information, and to complete the online application.