Now that most of the dust has settled on the 2019/2020 budget, municipal and Authority water, wastewater and storm water system service providers should note that the Fiscal Code provides a funding opportunity.
The 2019-2020 Fiscal Code provides two important provisions:
- The addition of a definition of “water and sewer project” to make clear that a “storm water project” is eligible for funding. “Water and sewer project” is defined as, “ A project which is for a water supply system, sewage disposal system, storm water system or flood control”.
- For fiscal year 2019-2020 a total of $40mm will be transferred to the Commonwealth Financing Authority for distribution or reimbursement for water and sewer projects with a cost of not less than $30,000 and not more than $500,000. The applicant will not be deemed to be ineligible if the project detailed in the application is for a portion of a larger project, the total cost of which exceeds $500,000. In FY 2018-2019 the total amount provided was lower, $24mm.
Please note that the language in the Fiscal Code also provides for “reimbursement” for projects, which may offer an opportunity for funding projects which are already in progress.