Abstract
Each state administers a Clean Water State Revolving Fund (CWSRF) program that utilizes federal grants, along with a state match, to make loans to localities and other eligible entities to finance wastewater and other eligible projects. This paper examines variations in state practices, focusing on provisions that impact 1. the local affordability of a project, and 2. the total amount of funds available to meet statewide needs. The findings indicate that there are significant variations in the level of interest rates charged on CWSRF loans, the use of state leveraged bonds to increase the amount of funds available, and the provision of state grants to complement the CWSRF funds. This article discusses the implications of these variations and the interrelationships among the practices.
Published Version
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