1. State Revolving Fund Loan Program
Indiana Finance Authority State Revolving Fund Loan Program
State Revolving Fund Loan Program
ACEC
August 26, 2019
State Revolving Fund
100 N. Senate Avenue, Room 1275
Indianapolis, Indiana 46204

2. Indiana Finance Authority State Revolving Fund Loan Program SRF Organizational Chart
Jim McGoff
COO & Director of
Environmental Programs
State Revolving Fund Loan Programs
Matt Martin
Finance Manager
Bill Harkins
SRF Program Director
Emma Kottlowski
Financial Analyst
Alison Martin
Kary Long
Disbursement Coordinator
Camille Meiners, PE
Technical Review Coordinator
Shelley Love
WW Administrator
April Douglas
Environmental Reviewer
Staci Orr - Gardner
DW Administrator
Tracey Trimpe, PE
Project Engineer
Amanda Rickard, PE
Artemis Nikolaou
Debbie Wright
General Counsel
Amy Henninger
Compliance Officer
Joanie Jones
Administrative Assistant
Gayle Hicks
Bid Coordinator

3. Indiana SRF Accomplishments
As of June 30, 2019
559 loans closed in the Clean Water Program
265 loans closed in the Drinking Water Program
Over 390 Communities Served
Over $5.1 Billion in loan closings
Over $4.6 Billion disbursed to communities
Estimated $332 million in savings to borrowers, over the last 5 years (compared to market)

4. $1.4B + Current Loan Demand
Project Priority Lists (PPLs) document the funding need for infrastructure projects in Indiana surpasses our ability to fund through the traditional SRF program.
TOTAL
DW Q1 PPL
$387M
WW Q1 Large System PPL
$897M
WW Q1 Small System PPL
$195M
$1.4B +

5. SRF Interest Rates Wastewater SRF Interest Rates User Rates (Over $50)
SRF Rates July 1, 2019 – September 30, 2019
Wastewater SRF
Interest Rates
User Rates
(Over $50)
($30 to $50)
(Under $30)
Tier III (MHI: under $41,746)
2.00%
Tier II (MHI: $40,747 to $50,181)
Tier I (MHI over $50,181)
Drinking Water SRF
Interest Rates
User Rates
(Over $45)
($25 to $45)
(Under $25)
Tier III (MHI: under $41,746)
2.00%
Tier II (MHI: $40,747 to $50,181)
Tier I (MHI over $50,181)

6. Quarter Calendar What’s new? What are the SFY quarters? Q1 Q2 Q3 Q4
July 1 – September 30 Q2
October 1 – December 31 Q3
January 1 – March 31 Q4
April 1 – June 30

7. Funding Cycle
20 Closings Per Quarter
Online Calendar

8. Funding Cycle Prior SFYs: Fundable Range Established – Q1, July
Earmarked Funds Until December
Permits
Land
Bids
Financial
ByPass – January - June

9. Funding Cycle SFY 2020: Fundable Range Established – Q1, July
Earmarked Funds Until March
Permits
Land
Bids
Financial
ByPass – April - June

10. Schedule How to get put on the calendar:
PER submitted, ranked and in fundable range
Municipal Advisor provides commitment letter to Bill Harkins
Bids Opened _______
All Permits approved _____
All Land Acquired ______
Quarter requested
Prior to officially being placed on the calendar, above requirements must be met

11. WW and DW – entire system
Asset Management
Indiana Code
WW and DW – entire system
Start with the Certification
SRF wants one document – the Certification
When do you submit the certification?
How does this related to the Fiscal Sustainability Plan requirement?
Federal vs. State

12. Asset Management Program Memorandum
SRF AMP Documents
Documents Available:
Asset Management Program Memorandum
Asset Management Program Guidelines 
Asset Management Program Certification
Asset Management Program Checklist
Asset Management Program Guidance
More information:

13. Guidelines vs. Guidance
AMP Documents
Guidelines vs. Guidance

14. AMP Documents
Certification
Checklist
Guidance
Certification

15. SRF AMP Certification
Ask yourself…

16. SRF AMP Guidance
Technical
Managerial
Financial

17. Cyber Security Framework
SRF AMP Guidance
Cyber Security Framework

18. Cyber Security Checklist
SRF AMP Guidance
Cyber Security Checklist
Identify
Assets
Protect
Policies
Detect
Monitor
Respond
Response Plan
Recover
Update/Improve

19. SRF Incentive Programs: GPR NPS Brownfields
SRF Incentives
SRF Incentive Programs:
GPR
NPS
Brownfields
Lead Service Line Replacement
Extended Term Financing

20. SRF Incentives GPR 0.5% interest rate break Categorical/Business Case
Submit documentation prior to close
Planning, design, construction
Non-Point Source
0.5% interest rate break
Septic System Elimination, non-point source treatment
Submit documentation prior to close
Could include entire project cost

21. Submit documentation prior to close Timing
SRF Incentives
Brownfields Project
0.5% interest rate break
Submit documentation prior to close
Timing

22. Lead Service Line Replacement
SRF Incentives
Lead Service Line Replacement
Interest rate break
to 0.00%
Only complete lead
service lines are eligible
*Meter or shut off valve
Tracking

23. Illustration of SRF Cost Savings
Lead Line Replacement Incentive
Utility ABC’s
Financing Cost
Original
Loan Structured
with Lead Line
Rate Reduction
Loan
Debt Service
New SRF Loan
$10,000,000
$12,500,000
Interest Rate
2.25%
0.00%
Amount available for lead line project
$ 2,500,000
Interest rate savings will allow Utility to apply $2,500,000 towards costs associated with lead line replacement project at no additional costs to rate payers.
Similar methodology is applied to GPR projects.

24. Interest Rate Increase
SRF Incentives
Extended Term Financing
Up to 35 years
Pipe only
Useful life
Entire project ≥ loan term
Slightly higher rate
10 basis points per 5 years
Loan Term
Interest Rate Increase
21-25
+0.1%
26-30
+0.2%
30-35
+0.3%

25. How to these work together?
SRF Incentives
How to these work together?
Floor is 2.00% for projects without lead service line replacement
Lead service line replacement projects can be as low as 0.00%
GPR, NPS, BF all reduced prior to addition of extended term financing increase
Examples:
Project with GPR:
Rate = 2.35%, GPR reduces rate to floor of 2.00%
Project with GPR and Extended term of 35 years:
Rate = 2.35%, GPR reduces rate to 2.00%, 35 year term increases rate to 2.30%
Project with Lead Line Replacement and Extended Term of 35 years:
Rate = 2.35%, Lead line replacement reduces rate to 0.00%, 35 year term increases rate to 0.30%

26. Flood Control Program Transferred to IFA in 2016 from DNR
Applications may be submitted at any time
Loan Terms
Maximum borrowing amount is $250,000
2.0% for loan terms between 1 year and 5 years
2.5% for loan terms over 5 years to 10 years
OCRA Match?

27. Flood Control Program
Flood control projects must provide benefits to their communities and may include one or more of the following endeavors:
The removal of obstructions and accumulated debris from channels of streams
The clearing and straightening of channels of streams
The creating of new and enlarged channels of streams, wherever required
The building or repairing of dikes, levees, or other flood protective works
The construction of bank protection works for streams
The establishment of floodways
Conducting all other activities that are permitted by the federal Flood Control Act or federal Clean Water Act

28. Questions?

29. Technical Review Coordinator
Camille Meiners, PE
Technical Review Coordinator