Resources for Comunities
If the recent natural disasters impacted your community’s water or wastewater systems,
the State Revolving Fund (SRF) may be able to help. No matter their individual needs,
we encourage any community that is facing repairs to their systems or is concerned
about repaying their SRF loan to contact us to discuss possible assistance. Some
of the ways the SRF can help include:
Restructure existing SRF loans
If you are an existing SRF borrower, we can work with you to restructure your loan payments to help with current financial difficulties. We may be able to extend the term of your loan or delay principal payments. Under certain circumstances, it may be possible to reduce or eliminate interest and fee payments for a period of time. We will work with each community to determine the most appropriate solution.
Use SRF loans as match for FEMA funds
FEMA funds will generally pay for 75 percent of replacement costs for public water and wastewater systems. The SRF can be used for the required 25 percent match.
Use SRF funds as short-term loans to be repaid with FEMA grants
There may be times when a public facility has been approved for a FEMA grant but there is a delay in receiving the funds. In those situations, an SRF loan could be used to finance the repairs and then be repaid with the FEMA money.
SRF loans can be used to pay for repairs
In cases of necessary repairs from flood or tornado damage, the normal SRF procedures can be expedited to allow communities to receive money as quickly as possible. The usual timeframes for reviewing projects and processing loans can be significantly reduced in these situations.
For further assistance, please contact:
Lori Beary
Iowa Finance Authority
515-725-4965
lori.beary@iowa.gov
Patti Cale-Finnegan
DNR SRF Coordinator
515-725-0498
patti.cale-finnegan@dnr.iowa.gov
Restructure existing SRF loans
If you are an existing SRF borrower, we can work with you to restructure your loan payments to help with current financial difficulties. We may be able to extend the term of your loan or delay principal payments. Under certain circumstances, it may be possible to reduce or eliminate interest and fee payments for a period of time. We will work with each community to determine the most appropriate solution.
Use SRF loans as match for FEMA funds
FEMA funds will generally pay for 75 percent of replacement costs for public water and wastewater systems. The SRF can be used for the required 25 percent match.
Use SRF funds as short-term loans to be repaid with FEMA grants
There may be times when a public facility has been approved for a FEMA grant but there is a delay in receiving the funds. In those situations, an SRF loan could be used to finance the repairs and then be repaid with the FEMA money.
SRF loans can be used to pay for repairs
In cases of necessary repairs from flood or tornado damage, the normal SRF procedures can be expedited to allow communities to receive money as quickly as possible. The usual timeframes for reviewing projects and processing loans can be significantly reduced in these situations.
For further assistance, please contact:
Lori Beary
Iowa Finance Authority
515-725-4965
lori.beary@iowa.gov
Patti Cale-Finnegan
DNR SRF Coordinator
515-725-0498
patti.cale-finnegan@dnr.iowa.gov
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