On October 27, 2015, the Minnesota Public Facilities Authority (PFA) approved a financing agreement to the Metropolitan Council for a number of wastewater infrastructure projects. The PFA’s financing package consists of a $70,000,000 Clean Water Revolving Fund 20-year loan with an interest rate of 1.113 percent. The funds are from Minnesota’s Clean Water State Revolving Fund (SRF). The projects will help Metropolitan Council Environmental Services (MCES) continue to protect and preserve water quality by maintaining and improving the wastewater treatment facilities and interceptors that serve the Twin Cities metropolitan area.
The Clean Water SRF is supported through a combination of federal capitalization grants from the U.S. Environmental Protection Agency, state matching funds, loan repayments, and bond proceeds from PFA revenue bonds. Since 1989, Minnesota’s Clean Water SRF has received $744 million in federal funds. These funds have been leveraged almost 4 to 1 by the PFA to award more than 500 wastewater loans totaling over $2.8 billion.