United States

Environmental Protection

Agency

Office of Water EPA-832-N-99-001

Summer 1999

A NEWSLETTER FOR THE CLEAN WATER AND DRINKING WATER SRF PROGRAMS

ANNOUNCING THE SRF NEWSLETTER

One Federal assistance program that has been identified as a success story for the

Environmental Protection Agency is the State Revolving Fund program. In 1988, Congress

introduced a new way of doing business by replacing the Construction Grants program with

the Clean Water State Revolving Fund Program (CWSRF). The CWSRF program provides

states with a continuing source of funding for wastewater treatment facilities and projects

associated with estuary and nonpoint source programs. Although Congress authorized

funding through 1994, appropriations have continued to the present. Federal funds, together with state contributions and funds from leveraging, have provided a total investment in

the CWSRF that exceeds $28 billion. Repayments alone are providing in excess of $1 billion

per year back into state CWSRF programs.

Recognizing a need to address compliance issues associated with public drinking

water systems, Congress authorized a Drinking Water State Revolving Fund (DWSRF) program in 1996. This new program provides states with a continuing source of funding for

public water system infrastructure improvements needed to protect public health. The program also provides each state with the flexibility to use a portion of its grant for important

programs and activities related to drinking water source water protection and water system

management. The DWSRF was patterned, in large part, on the successful CWSRF program.

In an effort to foster a positive and effective working relationship with states, EPA initiated a State/EPA Work Group to address issues related to implementation of both the Clean

Water and Drinking Water State Revolving Funds in 1998. One of the things we have heard

during the work group meetings is that there is a delay when it comes to getting information out - whether it be about policies EPA is considering or innovative approaches states

are taking with respect to their SRFs.

The Association of State Drinking Water Administrators has helped by developing a

newsletter that addresses the DWSRF program and the annual Council of Infrastructure

Financing Authorities (CIFA) National SRF Workshop has proven to be a valuable forum for

CONTINUED ON PAGE 2
ON THE NATIONAL SCENE

CWSRF - NPS/Estuary Grant Proposal

Status and Implementation

In an effort to continue to add flexibility to the CWSRF program, the Administration is requesting that states be given the

opportunity to use 20 percent of the FY 2000 Clean Water

State Revolving Fund capitalization as grants, instead of loans,

for nonpoint source and estuary projects. Twenty-seven states

are funding nonpoint source (NPS) and estuary management

projects with CWSRF loans. This proposal provides the

CWSRF programs with an additional option to mix grant and

loan funding for these projects.

The President’s CWSRF Budget Request for FY 2000 is

$800 million. Under the new proposal, as much as $157 million of this amount could be made available from the CWSRFs

to provide grants for nonpoint source and estuary management projects. The provision of grant funds would be at the

discretion of the states. The proposal limits a grant subsidy to

60 percent of a project’s costs. The remaining 40 percent

must be provided by grant recipients using CWSRF loans or

other financing sources. The funds used to make grants can

come from CWSRF loan repayments, interest earnings, bond

proceeds, state match, or Federal capitalization grants. If a

State chooses to make grants with non-Federal funds (e.g.,

repayments), the cross-cutting Federal requirements applicable to the CWSRF program would not apply.

If a state chooses to make grants from the CWSRF it must

use an Integrated Project Priority System (IPPS) to select projects. Currently, 18 states are using or developing IPPSs.

Examples of eligible projects include agricultural best management practices to prevent and reduce runoff, animal waste

facilities, rehabilitation of streambanks, riparian corridors

and buffers, and wetlands protection.

2

NEWSLETTER from page 1

sharing information about state activities. However, it is difficult for both organizations to address each and every topic of

interest to SRF program stakeholders. By developing a quarterly newsletter, we hope to provide an additional source of

up-to-date SRF information. The newsletter will provide

insights into new and creative SRF activities at the state level

and will keep SRF program staff up-to-date on policies and

initiatives undertaken by EPA.

We hope to involve states and EPA Regions in the

newsletter. Recognizing that the experiences of staff working

in SRF programs provide invaluable lessons for their peers,

we hope to include articles written by drinking water, clean

water, and finance program representatives in each issue. For

example, in this issue we provide articles written by Maine on

their DWSRF land acquisition loans and Minnesota on their

program to provide CWSRF loans for agricultural best management practices.

In the future we hope that you will let us know what you

would like to see in the newsletter. We are including a “fax

back” form in each issue that can be used to share your

thoughts with us on the newsletter. Your continued participation will help ensure that the CWSRF and DWSRF programs

flourish and continue into the future as an environmental and

public health protection success story.

Connie Bosma Bill Kramer

Branch Chief, DWSRF Acting Branch Chief, CWSRF

H. William Kramer, Jr.

Bill Kramer became acting Chief of the SRF Branch in May

1999 replacing Richard Kuhlman who became the Acting

Division Director of the Municipal Support Division. Since

joining EPA in 1980, Mr. Kramer has served in a variety of

managerial positions including Chief of the Policy and

Analysis Branch where he had a leading role in developing

the State Revolving Fund Program.
sheds still contain moderate to serious water quality problems.

Last year the Clean Water Action Plan (CWAP) was developed

with other Federal partners to renew the national commitment

to provide “fishable and swimmable” waters to all Americans.

The results of the National Water Quality Inventory

Report (305b) indicate that 60 percent of our water quality

problems are nonpoint-source based. To help target and prioritize these problem areas, the CWAP called for states to

develop Unified Watershed Assessments (UWA) to identify the

watersheds most in need of assistance.

The CWAP emphasized the importance of the CWSRF program by including two high priority key actions that focus on:

(1) use of funds for polluted runoff projects (including NPS &

estuary projects), and (2) use of integrated priority setting

systems by states to identify projects for funding.

Since 1988, 97 percent of CWSRF funds have been devoted to traditional municipal wastewater treatment projects.

While significant changes are necessary in order to address

the actions included in the CWAP, the groundwork for change

is in place. The portion of CWSRF funds supporting nonpoint

source and estuary protection has grown in recent years.

Over the past 3 years, CWSRF funding for nonpoint source

and estuary projects averaged 7 percent and 18 states are

using or are in the process of developing integrated priority

setting systems. 

Today, twenty-seven states are funding nonpoint source

projects. These figures are encouraging, yet there is room for

improvement. In working to meet the goals of the CWAP,

states are encouraged to start at the local level with unified

watershed assessments, which can tie in directly to the states’

integrated priority setting systems. By using available tools to

guide CWSRF funding decisions states can identify high priority projects in targeted watersheds.

For more information on the CWAP program, including

the full plan and first anniversary report, visit the CWAP

website at http://www.cleanwater.gov.

3

Status of Implementation in

the DWSRF program

My, how time flies. A little over two years ago, on

February 28, 1997, EPA released the final guidelines for the

DWSRF program. A week later, on March 6, 1997, Georgia

received the first grant under the program. Two years down

the road we find that implementation is moving forward, at an

impressive rate. All 50 states and Puerto Rico accomplished

the program’s first important goal by receiving their FY97

grant awards by the September 30, 1998 deadline. As of midMay, 35 States have received awards for FY98 funds and 4

have received FY99 funds, bringing the total amount awarded

to $1.8 billion (of the $2.8 billion appropriated). 

Of the funds that have been awarded, states have

reserved $315 million to conduct eligible set-aside activities.

States reserved $111 million of this amount from FY97 grants

to conduct source water assessments of public water systems

as required by the Safe Drinking Water Act.

A survey of states in the beginning of March indicated

that 37 states have made more than 470 loans to public water

systems for approximately $1.08 billion. This amount

includes additional funds made available by states leveraging

capitalization grants. Continued success is anticipated as a

result of funding of $825 million in the President’s proposed

FY2000 budget.

Some states are finding the process of closing loans to be

more difficult than they might have anticipated a year ago. Many

of the systems applying for loans are small, and often require

a significant amount of assistance to bring them to the table

for a loan. However, despite the challenges posed by small

systems, it is impressive to note that 297 out of 474 loans have

gone to systems that serve fewer than 10,000 persons.

Clean Water Action Plan - An SRF Perspective

Although great progress has been made in cleaning up our

Nation’s waters, significant water quality problems persist.

States report that roughly 40 percent of their assessed waters

still do not meet water quality goals and 1,000 major water-
STATE ACTIVITIES AND TRENDS

Cross-Collateralization and Short-term

Cross Investment

Cross-Collateralization and Cross-Investment are two new

security enhancements states are using when leveraging their

Clean Water and Drinking Water State Revolving Funds. These

enhancements allow the resources of one SRF to be used to

secure the repayment of bonds of the other program.

Cross-Collateralization, authorized under the 1999

Appropriations Act, allows states to combine the assets of the

CWSRF and DWSRF programs as security for bond issues “. . .

provided that revenues from the bonds are allocated . . . in

the same portion as the funds are used as security for the

bonds. . .” Currently, New Jersey, Missouri, Colorado, Arizona

and Minnesota are states with cross-collateralization structures in place.

Cross-Investment, allowed under the “permitted investment provisions” of the Clean Water Act and the Safe Drinking

Water Act, allows states to “invest” available funds from one

SRF to cure a default related deficiency in the other. The

investment is short-term and must be repaid after the borrowing SRF recovers from the loan default. Currently, New York,

Michigan and Maine have cross-investment structures in place.

Although these enhancements are used to secure either

SRF program, the primary beneficiary is the DWSRF program,

which benefits from the larger size, greater diversification and

strong credit quality of CWSRF borrowers.

EPA has prepared separate State Activity Updates, available from Regional offices, that provide additional details on

the structures that have been developed by Michigan, New

York, and New Jersey. The Updates are also available on the

CWSRF and DWSRF websites.

Extended Bond Purchase Program

The Commonwealth of Massachusetts recently implemented

an extended bond purchase program that allows SRF funded

projects to be amortized over a thirty year period. Under the

program, the Massachusetts CWSRF purchases bonds from

local communities, which use the proceeds for CWSRF eligible

projects. This form of assistance is eligible under Section

603(d)(2) of the Clean Water Act. EPA accepted the proposal

of the program because the Commonwealth pledged to take

the following important measures to protect the fund and provide assistance to borrowers:

1. The Commonwealth would provide capital investment into

the CWSRF program that is above the 20 percent state

matching funds required. The Commonwealth pledged to

make additional deposits to provide a subsidy equal to 50

percent of annual loan repayments.

2. The Commonwealth would modify its leveraging parameters

to ensure that the purchasing power of the CWSRF would

not be diminished over the long-term due to the 30 year

term allowed for the bond purchase program. Specifically,

the state reduced its debt service reserve fund level from 50

percent to 40 percent of the bond issue.

EPA has prepared a separate State Activity Update, available from Regional offices, that provides additional details on

the Massachusetts Extended Bond Purchase Program. The

Update is also available on the CWSRF website.

California SRF Closes Loan to The Nature

Conservancy for Wetland Preservation

Recently, the California State Water Resources Control Board

closed an $8 million low-interest loan to The Nature

Conservancy. The loan allowed The Nature Conservancy to

purchase a 19.3 square mile wetlands preserve in the

Sacramento area. The purchase of the preserve was made to

protect the wetlands from an increase in development in the

area. The Conservancy’s plan is to resell the land to a ranching company with permanent restrictions (conservation easements) that will protect rare natural vernal pools (springtime

wetlands) by limiting the allowable uses of the land.

Protecting Sources of Drinking Water

In many cases, the most effective and least expensive method

to protect a source of drinking water from contamination is to

4
properly manage the land surrounding the source. Protecting

source water is particularly important for those systems that

do not filter surface water sources before providing water to

customers. A set-aside in the DWSRF program specifically

allows funds to be used to provide loans for land acquisition

and conservation easements needed to protect a drinking

water source. Loans allowed under the nonpoint source provisions in the CWSRF can also be used to acquire land for

source water protection. Maine is the first state to implement

a land acquisition loan program in the DWSRF program. In

the next issue we will highlight land acquisition loans made in

the CWSRF program.

State Focus - Maine DWSRF

Land Acquisition Loans

Wendy Coffin and Paul Hunt, Maine Department

of Health Services

In an effort to support and facilitate source water protection, the

Maine Drinking Water SRF Program (DWSRF Program) has

included a land acquisition/conservation easement loan component using set-aside funds since its inception in December 1997.

The Process

Each year, the Maine DWSRF Program issues a letter soliciting

construction and land acquisition projects from all qualifying

water systems. Proposals for land acquisition or purchase of

conservation easements (L.A. projects) are ranked separately

from construction projects and are scored in the following

categories:

1. Compliance/enforcement status of the system (favoring systems facing more severe enforcement action, but only if the

L.A. project will address the enforcement issue)

2. Water rates as a percentage of median household income

(favoring systems with a higher percentage)

3. Population served (favoring systems with a population

between 3300 and 9999)

4. System type (favoring community systems)

5. Source type (favoring surface water over ground water)

Based on the sum of points in all five categories, all L.A.

projects are ranked from most to least urgent. Beginning at

the top of the list, systems are notified of the eligibility of their

L.A. projects until all available funds are committed. To date

the Drinking Water Program has been able to commit to fund

all the L.A. projects that have been proposed. It is our intent

to fund all future requests using up to 10 percent (the maximum allowed) of each year’s DWSRF capitalization grant.

The second step in the process is to determine whether

or not the L.A. project “is integral to the source protection

needs of the system.” The water system must submit documentation demonstrating that the project meets this standard.

For surface water systems, all land within the watershed is

considered to meet the standard. For ground water systems,

the standard is met by all land which falls within the delineated wellhead protection area.

Once a project is deemed eligible and determined to be

integral to source protection, the water system must accomplish the following:

1. Provide an appraisal documenting the fair market value

of the land

2. Negotiate a purchase and sales agreement with a

willing seller

3. Demonstrate availability of revenues sufficient to repay

the loan

The Maine Municipal Bank typically offers a loan with a

10-year repayment period for land purchases but will extend

that period to 20 years if a water system makes that request.

Unlike construction loans, however, the interest rate cannot

be reduced and there is no principal forgiveness, even for

disadvantaged communities.

5
Projects Thus Far

To date, the DWSRF has deemed eligible 11 L.A. projects for a

total of more than $1.4 million.

• Auburn and Lewiston Water Systems

The Auburn Water District and Lewiston Water Department

utilize Lake Auburn, an unfiltered surface supply in southcentral Maine, as a source. Using DWSRF funds, the systems

purchased 434 acres of land in the watershed of “The Basin,”

a small pond which drains directly into Lake Auburn. As part

of the agreement, the previous land owner is permitted to

continue low-impact farming and hunting on the land.

Originally, the purchase was to be made by the LewistonAuburn Watershed Control Commission, a non-profit organization which works closely with the systems to manage the

watershed. However only public water systems are eligible

for land acquisition loans so the loan was ultimately split

between the two water systems. The total purchase price of

the land was $570,000.

• Bangor Water District

The Bangor Water District (BWD) in east-central Maine utilizes Floods Pond as a source. Customers are provided water

from Floods Pond, an unfiltered surface supply located in the

neighboring community of Clifton. The watershed is largely

undeveloped woodland and the BWD already owns more than

half of the land in the watershed. The DWSRF has deemed

eligible the purchase of 725 acres from Champion Paper

Company. Approximately 75 percent of the land is in the

direct watershed of Floods Pond. The remainder drains to

Burnt Pond, the outlet of which enters Floods Pond near the

BWD intake. After closing on the land, the BWD will own all

but about 250 acres in the Floods Pond Watershed. While the

BWD originally requested $321,750, when additional land

became available, they requested and received an additional

$235,250.

Other Projects

Of the nine remaining projects that were ranked and allotted

funds, four were only notified of the availability of funds in the

past few months and have not yet contacted the DWSRF

Program regarding the steps in the process. One other system

was unable to demonstrate eligibility for a filtration waiver

and is now pursuing a new source. Two systems were notified

last year of their eligibility for funds but have not pursued the

projects for unspecified reasons. One system was unable to

negotiate a purchase-and-sales agreement. The remaining system negotiated a conservation easement with the land owner

and then, because of the reduced cost, chose to finance the

agreement without DWSRF assistance.

If you have any questions about this article or want

further information about Maine’s DWSRF Program, call

(207) 287-5684 or visit the program’s website at

http://janus.state.me.us/dhs/eng/water/srf.htm.

Minnesota’s Agriculture Best Management

Practices Loan Program

Minnesota has issued more CWSRF loans to address agricultural nonpoint source pollution than any other state. As of

April 1999, $21.4 million in loans have funded almost 1,900

projects. CWSRF loans have funded agricultural waste management systems, conservation tillage equipment, structural

6
erosion control practices, and rural septic systems.

Minnesota’s Agriculture Best Management Practices Loan

Program is unique in that it is fairly simple and straightforward and allows significant control at the local level.

Part of a Multi-Program CWSRF Initiative

In 1995, Minnesota implemented a multi-faceted initiative to

use CWSRF loans to address nonpoint source pollution problems. The Department of Agriculture, the Pollution Control

Agency, and the Department of Trade and Economic

Development all established loan programs capitalized with

Clean Water State Revolving Fund dollars. The Agriculture

Best Management Practices Loan Program, developed by the

Minnesota Department of Agriculture, has been the most

active of these loan programs.

A Three-Party Loan Agreement

Three parties participate in loan management in the

Agriculture Best Management Practices Loan Program: the

Department of Agriculture, a local government unit, and a

lending institution. The Department of Agriculture is responsible for the implementation of the program on a statewide

level. It advertises the availability of zero-interest funding for

the implementation of comprehensive local water plans and

requests applications. These applications are reviewed by a

committee composed of representatives from five state agencies, two federal agencies, the Association of Minnesota

Counties, and the Association of Minnesota Soil and Water

Conservation Districts. The review committee recommends

priority funding for local government units that submit strong

applications that tie the problems, causes, solutions, implementation priority, and benefits into a well-organized implementation plan. On the basis of these recommendations, the

Commissioner of the Department of Agriculture allocates

funds to each local government unit.

The local government unit (typically a county or Soil and

Water Conservation District) has four responsibilities in this

program. First, it must select a lending institution that will

manage secondary loans to individual projects. Second, it

7

Agriculture Waste

Management

$9.4 M

44%

Septic

Systems

$2.7 M

13%

Structural

Erosion Control

$0.6 M

3%

Conservation

Tillage Equipment

$8.6 M

40%

FIGURE 1

Agriculture BMPs Funded by the CWSRF

in Minnesota

FIGURE 2

Distribution of CWSRF Funds among Minnesota State Programs

Department

of

Agriculture

Pollution

Control

Agency

Department

of Trade and

Economic

Development

CWSRF Funds
Borrower

Lending Institution

Local Government

Unit (e.g., County)

Minnesota Department

of Agriculture

must certify projects that are eligible for CWSRF funding.

Third, before the final disbursement to each borrower, the

local government unit must certify that the project has been

completed in compliance with accepted standards, specifications, and criteria. Finally, the local government unit must

submit an annual report to the Department of Agriculture on

all program activities.

The lending institution, designated by the local government unit, may be a bank, a savings and loan association, a

8

FIGURE 3

Flow of Funds for CWSRF Loans in Minnesota’s Ag

BMP Program

CWSRF

credit union, a non-profit economic development organization, or Farm Credit Services. The lending institution evaluates, approves, and manages loans to certified borrowers.

The CWSRF distributes funds to the borrower via the lending

institution on a cost-incurred basis. For every CWSRF loan,

the lending institution guarantees repayment of principal to

the Department of Agriculture. As compensation for these

services, the lending institution receives a 1/2 percent origination fee and 3 percent interest on the loan.

A Successful Program

Since 1995, Minnesota’s CWSRF has capitalized almost 1,900

loans for agriculture best management practices, making it

one of the most prolific programs in the country. Three elements have contributed to this success: (1) the simple and

straightforward nature of the program; (2) the successful delegation of many of the responsibilities of the loan program to

the various state or local organizations most suited to fulfill

them, keeping most of the control at the local level; and (3)

the provision of funds, through a competitive application procedure, to local governmental units based upon their ability to

implement priority practices. As a result, Minnesota has made

great strides in addressing agricultural nonpoint source pollution. For further information about Minnesota’s Agriculture

Best Management Practices Loan Program, call Dwight Wilcox

at (651) 215-1018.
IN THE WORKS 

Report on Ongoing SRF Activities

Water Funding “Gap” Study

How can the “gap” between drinking water and clean water

funding needs and expenditures be addressed? To answer

this question EPA is conducting a study to identify annual

drinking water and clean water funding needs and compare

these needs to current program expenditures. EPA also hopes

to identify alternative approaches to address the anticipated

gap between needs and expenditures. The study is covering

local level programs and activities eligible for financial support from EPA’s Clean Water and Drinking Water State

Revolving Funds as well as state programs.

DWSRF Regulations

The DWSRF program is in the process of developing regulations which will codify the final guidelines for the program.

The final guidelines and subsequent policies were developed

with the participation of states and other stakeholders and

underwent public comment. The draft of the regulation was

made available to the public on the OGWDW website for a 45

day public comment period which closed May 27. The draft

was developed with input from the State/EPA SRF work group.

The regulation will be modified after considering the comments that are received, and will be published as an Interim

Final rule during the winter of 1999. The Interim Final rule

will become effective upon the date of publication, but will

allow for a 60 day comment period. If revisions are necessary based on the comments received, the rule will be published as Final, otherwise the Interim Final rule will stand.

Training Needs Survey

During the past several years, EPA has conducted training for

CWSRF and DWSRF staff in states and EPA regions to ensure

that everyone has access to the information they need to

implement their programs. It is important to ensure that staff

running the SRF programs are trained on pertinent topics.

Three associations that represent the majority of SRF programs - the Association of State and Interstate Water

Pollution Control Administrators (ASIWPCA), the Association

of State Drinking Water Administrators (ASDWA), and the

Council on Infrastructure Financing Authorities (CIFA),

stepped in this spring and offered to survey their members to

identify the most critical needs to assist EPA in developing

plans for future training. A survey was distributed to members during March and representatives from the three associations presented the findings to the State-EPA work group at

its April meeting. Results will be used to develop a training

agenda for the future.

Environmental Indicators

Measuring environmental results is fundamental in determining the environmental benefits gained from the expenditure of

SRF funds. EPA has initiated a process to identify the key

environmental indicators that can be used to assist state partners with priority setting and monitoring of their CWSRF program’s progress, while providing a nationally consistent set of

performance measures to be used by EPA to assess the progress

of the national program. Members of the State/EPA Work

group were invited to participate in a task force to assist in

the implementation of this project. The 16 member task

force consists of staff from EPA and 6 states Using a recently

completed report as a starting point, Environmental Indicators for the Clean Water State Revolving Fund, the task force

has selected a set of indicators for pilot testing and further

refinement. It is anticipated that the final set of indicators will

be ready for implementation by the fall of the year 2000.

9
10

EVENTS

1. The Association of Metropolitan Sewerage Agencies

Location: Philadelphia, PA

Date: July 20-23, 1999

Information: see the AMSA website

2. The Association of State and Interstate Water

Pollution Control Agencies Annual Meeting

Location: Kennebunkport, ME

Date: August 29-September 1, 1999

Information: see the ASIWPCA website

3. The Association of State Drinking Water

Administrators Fourteenth Annual Conference

Location: Lake Buena Vista, Florida

Date: October 4-7, 1999

Information: (202) 293-7655 or visit the ASDWA website. 

4. The Association of Metropolitan Water Agencies

Location: Norfolk, VA

Date: October 17-20, 1999

Information: see the AMWA website

5. The Council of Infrastructure Financing

Authorities Annual SRF Conference

Location: San Antonio, TX

Date: November 8-9, 1999

Information: Tara Powers at (202) 371-9694

SRF LINKS

1. CWSRF/DWSRF@EPA

Both SRFs maintain pages on the EPA website with information on the programs. Both sites contain guidance, policy

documents and contact lists for state and regional staff.

The URLs are as follows:

• CWSRF: www.epa.gov/owm/finan.htm

• DWSRF: www.epa.gov/safewater/dwsrf.html

The DWSRF site includes a link to a Local Drinking Water

Information page, which has state by state information on

drinking water systems and programs. Where available,

this page includes a link to state DWSRF Intended Use

Plans.

2. National Associations

• Association of State and Interstate Water Pollution

Control Agencies: www.asiwpca.org

• Association of State Drinking Water

Administrators: www.asdwa.org

• American Water Works Association:www.awwa.org

• Association of Metropolitan Water Agencies:

www.amwa-water.org

• Association of Metropolitan Sewerage Agencies:

www.amsa-cleanwater.org

• National Association of Water Companies:

www.nawc.org

3. State Programs

Many SRF programs have websites that are used to provide

program information and application materials. This newsletter places a spotlight on New York.

• NY Environmental Finance Corporation:

www.nysefc.org

• New York Dept. Of Health:

www.health.state.ny.us/nysdoh/environ/water.htm
FAXBACK FORM

Please fax to EPA Headquarters:

CWSRF PROGRAM (Attn: S. Hoover) • 202-260-0116

or

DWSRF PROGRAM (Attn: V. Blette) • 202-401-2345

Comments on Current Newsletter:

__________________________________________________________________________________________________________

__________________________________________________________________________________________________________

__________________________________________________________________________________________________________

__________________________________________________________________________________________________________

__________________________________________________________________________________________________________

__________________________________________________________________________________________________________

Suggestions for Articles or Event Announcements in Future Newsletters:

__________________________________________________________________________________________________________

__________________________________________________________________________________________________________

__________________________________________________________________________________________________________

__________________________________________________________________________________________________________

__________________________________________________________________________________________________________

__________________________________________________________________________________________________________

If you wish to receive future newsletters, please complete the following to be added to the mailing list:

Name: ____________________________________________________________________________________________________

Title: ______________________________________________________________________________________________________

Address: __________________________________________________________________________________________________

email: ____________________________________________________________________________________________________

11
IN THIS ISSUE.......

On the National Scene

• CWSRF - NPS/Estuary Grant Proposal Status and

Implementation

• Status of Implementation in the DWSRF program

• Clean Water Action Plan - An SRF Perspective

State Activities and Trends

• Cross-Collateralization and Cross Investment

• California Loan to The Nature Conservancy

• Extended Bond Purchase Program

• State Focus - Maine DWSRF Land Acquisition Loans

• State Focus - Minnesota CWSRF Loans for Agricultural Best

Management Practices

In the Works - Report on Ongoing SRF Activities

• Water Funding Gap Study

• DWSRF Regulations

• Training Needs Survey

• Environmental Indicators

Events • SRF Links • SRF Fax Back

United States

Environmental Protection

Agency

Washington, DC 20460

Official Business

Penalty for Private Use

$300