Vermont’s Clean Water State Revolving Fund (CWSRF) is a federal-state program that provides communities with a permanent and independent source of low-cost financing for a wide range of water quality infrastructure projects. This is the first in a series of VLCT News articles outlining the evolution of the CWSRF a result of Act 185, which became law last May.
While Act 185 caused eligibility in Vermont’s CWSRF to become more flexible, you could also say it became more adaptable, more accommodating, and – in keeping with its clean water moniker – more fluid.
In addition to funding municipal clean water projects, the CWSRF is now open to private entities including for-profit applicants, non-profit organizations, and private landowners. This is timely, because the fund can provide private entities with access to capital to invest in upcoming and potentially costly stormwater retrofits required under the draft (as of this writing) updated Stormwater Management Rule. Additionally, the CWSRF can now help mobile home parks and homeowners associations that need wastewater infrastructure financing.
Several changes in the new law protect municipal interests. Municipal projects are prioritized under the CWSRF, and in order for a private entity to utilize the fund, all municipal projects must first be bypassed. Additionally, private entities may not access more than 20 percent of the available fund balance in a given year and will need a letter of support from the relevant municipality in which the entity resides.
If you have any questions, please contact VLCT Water Resources Coordinator Milly Archer at marcher@vlct.org or 800-649-7915 and she will provide an answer or direct you to someone who can.