Capital Improvement Plan Programmatic Loan for Hampton Roads Sanitation District

Through the Clean Water Revolving Loan Fund, VRA was pleased to work with Hampton Roads Sanitation District (HRSD) on this innovative financing opportunity, which received a PISCES award from the Environmental Protection Agency (EPA) in 2022. HRSD has an extensive Capital Improvement Plan (CIP), most of which is required by various environmental regulations or an EPA Consent Decree regarding sanitary sewer overflows in HRSD’s service area. This programmatic financing secures access to a consistent funding source and protects HRSD from variations in interest rates. The loan, secured by HRSD’s sewer revenues, allows HRSD to use up to $100 million to pay for over 30 projects, including portions of its award-winning “Sustainable Water Initiative for Tomorrow” (or “SWIFT”) program.