Iowa Clean Water State Revolving Fund Plans New Funding Alternatives for Nonpoint Source Projects
For the past decade, one of the funding programs administered by the Iowa DNR and the Iowa Finance Authority for nonpoint source water quality projects has been the Water Resource Restoration Sponsored Project loan program. In the state fiscal year 2023, SRF stopped accepting applications for the Sponsored Project program to evaluate cost and effectiveness of the program and to focus on existing project awards.
SRF has concluded that there are alternative ways to finance nonpoint source projects that could better support the sustainability of the SRF fund, and expand the pool of eligible applicants. As a result, the SRF Nonpoint Source program will pivot away from sponsorship funding and will not accept sponsored project applications for the foreseeable future.
The SRF Nonpoint Source program continues to offer below-market interest loans for nonpoint source projects, and anticipates announcing alternative finance opportunities for nonpoint projects in the next fiscal year. The goal is to provide opportunities to a broader pool of applicants while continuing to focus on the state’s nonpoint source water quality priorities.
The SRF Nonpoint Source program will continue to fund and support sponsored projects with existing awards.
Please look for alternative funding opportunities, which will be published in Intended Use Plans beginning in 2024. Updates and opportunities will be communicated to potential borrowers through webinars, workshops and listserv communications. Information about current program financing can be found at https://www.iowasrf.com/nonpoint-source-water-quality-programs/.
Questions and comments can be directed to Julie Kelso, SRF Nonpoint Source Program Manager, at Julie.Kelso@dnr.iowa.gov.