CITY OF OCEANSIDE INVITED TO APPLY FOR WATER INFRASTRUCTURE LOANS

The City of Oceanside was invited by the U.S. Environmental Protection Agency (EPA) to apply for two separate Water Infrastructure Finance and Innovation Act (WIFIA) loans. Oceanside submitted letters of interest in early summer 2019 for the Pure Water Oceanside and Lower Recycled Water Distribution System Expansion Project as well as the Buccaneer Sewer Lift Station and Force Main Project. Oceanside’s letters of interest were among 51 others received by the EPA from both public and private entities in response to its 2019 WIFIA Notice of Funding Availability. After a robust review process, the WIFIA Selection Committee chose 38 prospective borrowers’ projects to submit applications for loans, including both projects submitted by the City of Oceanside.

The critical funding not only helps to pay for Oceanside’s local water supply development projects, it also funds a critical infrastructure repair and replacement project on our coastline. The Project will reduce the quantity of wastewater discharged to the ocean, in turn creating a healthier local marine environment that benefits water-based recreational activities. This funding in particular is made available at a lower interest rate than municipal bonds, saving ratepayer dollars.

Combined, the Pure Water Oceanside and the recycled projects will add approximately 10% to the current water supply portfolio and bring the community closer to the City Council’s goal of 50% local water supplies by 2030. Reservations for Experience Pure Water Oceanside Tours are available on the City’s Water Utilities webpage.

Background

The City of Oceanside is located in northern San Diego County with a population of approximately 178,000. Oceanside’s vibrant coastal community includes a municipal airport, a beautiful small craft harbor, one of the longest wooden piers in the west, golf courses, numerous parks, community centers, and extensive palm-lined beaches. Oceanside offers exciting hands-on recreational opportunities such as museums, bike trails, whale-watching tours, skydiving, fine dining, and much more. Oceanside has a highly-rated livability factor with an advantageous coastal locale, a thriving downtown scene, easy access to San Diego
and Los Angeles, plenty of open space, miles of beautiful beaches, unique architecture and historic buildings, and an efficient transportation hub. More than 6,000 businesses operate within the City of Oceanside, including Genentech Pharmaceuticals, Te Connectivity, Hydranautics, Nitto Denko, Gilead Sciences, Hobie Cat, and Tri-City Medical Center, as well as emerging craft and entrepreneurial ventures.

Established by the Water Infrastructure Finance and Innovation Act of 2014, the WIFIA program is a federal loan and guarantee program administered by EPA. WIFIA’s aim is to accelerate investment in the nation’s water infrastructure by providing long-term and low-cost supplemental credit assistance for regionally and nationally significant projects. EPA’s WIFIA program plays an important part in President Trump’s infrastructure plan, which calls for expanding project eligibility. The WIFIA program has an active pipeline of pending applications for projects that will result in billions of dollars in water infrastructure investment and thousands of jobs.

For more information about the WIFIA program.