Washington Public Works Board accepting loan applications through September 9

OLYMPIA, Wash. – The Washington State Public Works Board (PWB) is accepting applications for infrastructure construction and pre-construction loans through midnight Sept. 9. Cities, counties, special purpose districts and quasi-municipal organizations can apply. Infrastructure systems eligible for these ultra-low-interest state loans – between 0.47 and 1.39 percent for a 20-year construction loan – include streets and roads, bridges, domestic water, storm water, sanitary sewer, solid waste and recycling.

About $115 million is available for construction loans and $2.9 million for pre-construction loans. This is the second loan application round of the 2021-23 state budget. Funds are awarded to projects that pass the scoring threshold based on a competitive ranking process.

The scoring and ranking process begins on September 12, and the awards are expected to be announced on October 7. Depending on the number and qualifications of applicants, no guarantee funds will be available for future loan cycles. In the event that all funds are not committed in the first cycle, subsequent cycles will open every six months for construction loans and every four months for pre-construction loans.

An additional $1.94 million is being deposited into the emergency loan account, bringing available funds to $5 million. Applications for emergency funding remain open on a first-come, first-served basis until all available funds set aside for this program are exhausted. This funding is only available for emergencies in distressed communities and can be awarded as grants in eligible circumstances.

Application workshop June 14

A Virtual Application Workshop for PWB Construction and Pre-Construction Loans is scheduled for June 14 from 10:00 a.m. to 11:00 a.m. PDT. In previous cycles, the demand for dollars exceeded the funding available. The board expects this cycle to be equally competitive. Potential candidates are encouraged to attend the workshop.

Registration link: https://www.eventbrite.com/e/public-works-board-2023-loan-cycle-program-policies-tickets-353933272947

More information, application and contact

Visit the Public Works Board Funding Web Page for more information and to complete the online application. If you have any questions, please contact the Director of Traditional Programs and Tribal Liaison Mark Rentfrow(360) 529-6432.

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