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Drinking Water State Revolving Fund

Overview

The Virginia Drinking Water State Revolving Fund (DWSRF) provides financial assistance for drinking water projects to local governments. Since 1998, over $500 million has been invested in projects throughout the Commonwealth.

Eligible projects in the DWSRF include water supply and intake, water treatment and filtration, water storage, and water distribution.

DWSRF Benefits

  • Below-market interest rates (50-100 basis points below market)
  • 20-30 year loan terms (determined by the useful life of the project)
  • No bond issuance costs
  • No payments during the construction period
  • Interest accrues only on the drawn portion of the loan

Program Administration

The Virginia Department of Health (VDH) administers the program and policy aspects of the fund. VDH receives annual federal funding through the U.S. Environmental Protection Agency to support the DWSRF.

Virginia Resources Authority serves as the financial manager of the DWSRF and includes the following responsibilities: underwriting and structuring loans, loan closings, making disbursements to loan recipients, collecting loan repayments, investing uncommitted CWRLF monies, and issuing bonds.

Additional information about the DWSRF program can be found on the Virginia Department of Health website.

DWSRF Interest Rates

Loan TermJune 2024July 2024
20 Year2.85%2.90%
30 Year3.80%3.80%

Note: Interest rates are set approximately 1-month before loan closing

Partner

Featured Projects

Extensive Upgrades to NRV Regional Water Authority Facilities

In 2020, the NRV Regional Water Authority financed an extensive modernization of its water treatment plant through the Drinking Water State Revolving Fund.

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Water Transmission Main Replacement, New Pumping Stations, and Emergency Generators for Buchanan County Public Service Authority

The Virginia Department of Health offered a funding package of approximately $10 million to Buchanan County Public Service Authority for a transformative water system project.

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Construction of New Micro-Filtration Plant in Town of Buchanan

Obtaining funding through the Drinking Water State Revolving Fund, the Town of Buchanan built a new micro-filtration plant.

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