12/07/2021 | Press release | Distributed by Public on 12/07/2021 18:56
WASHINGTON - U.S. Senator Bill Cassidy, M.D. (R-LA) today announced the Environmental Protection Agency (EPA) will allocate $275 million to the Sewerage and Water Board of New Orleans for water infrastructure improvements. The Water Infrastructure Finance and Innovation Act (WIFIA) loan will help the city modernize its aging sewer system and protect historically underserved communities from the impacts of future storms.
"Protecting our communities from future storms and flooding is a priority in New Orleans and across the state," said Dr. Cassidy. "This funding will bolster the city's drainage system and build on the investment we are making with the Bipartisan Infrastructure Bill."
Due to WIFIA's flexible repayment terms, this loan is projected to save the Sewerage and Water Board of New Orleans and Louisiana taxpayers approximately $100 million in completing this project. It will also create an estimated 1,800 jobs.