Florida Finance/Management Program
Putting together ALL the financial and management services you need in one place: FRWA is already well known for providing high-quality technical assistance and training to member water and wastewater systems; we also provide financial and management assistance as a membership benefit.
Revenue Requirements & Rate Analysis
FRWA’s financial team is expert in providing analysis of revenue requirements and determining whether your utility user rates are adequate to meet operational expenses. We recommend rates to spread costs appropriately to customers while encouraging residential and commercial growth.
Utility Management Training Sessions
Utility management and board training are available at your fingertips from experienced and effective professionals. Whether the sessions are formal or individual, we are always available to help you run your system more effectively and efficiently.
Finance Programs, Grants, Loans & etc.
FRWA helps you find dependable sources for grants and loans for your projects – short-term, interim and long-term financing options.
Interim Finance Program
Interim loans are available for construction projects with USDA-long-term financing takeouts or SRF Authorization to Incur Costs letters.
Regulatory Updates & Assistance
FRWA closely monitors and is actively involved with legislative and regulatory activities. We co-sponsor regulatory updates through annual Focus-on-Change Sessions in coordination with the Department of Environmental Protection. FRWA frequently gets involved with clarification and interpretation of rules with DEP District and Local County Health Department offices.
The Cleanwater State Revolving Fund (SRF) Program provides low-interest loans to Eligible Local Governments for planning, designing and constructing stormwater facilities. The Department solicits project information (request for inclusion) each year. The information is used to establish project priorities for the following annual cycle. Projects with the highest priority are based on public health and water quality. The same annual priority list of development and management procedures are used for stormwater loans as well as wastewater SRF loans. The loan terms include a 20-year amortization and low-interest rates. Preconstruction loans are available and provide up-front disbursements for project planning, administrative services and project design.
For more information, please contact: https://floridadep.gov/wra/srf/ content/cwsrf-program
The Drinking Water State Revolving Fund (SRF) Program provides low-interest loans to Eligible Entities for planning, designing, and constructing public water facilities. Federal and State appropriations have funded the SRF. It is a “revolving” fund because loan repayments are used to make additional loans. By federal law, the SRF is to be operated in perpetuity. The Department solicits project information each year from January 1 to February 15. The information is used to establish the project priority list for the following annual cycle. Funds are made available for Preconstruction Loans to rate-based public water systems, Construction Loans of $75,000 minimum or more, and Pre-construction Grants and Construction Grants to financially disadvantaged communities. The Loan Terms include a 20-year (30-year for financially disadvantaged communities) amortization and low-interest rates. Small community assistance is available for communities having populations less than 10,000. Each year 15% of the funds is reserved exclusively for their use. In addition, small communities may qualify for loans from the unreserved 85% of the funds.
For more information, please contact: https://floridadep.gov/wra/srf/ content/dwsrf-program
EDA’s grant investments in planning, technical assistance, and infrastructure construction are designed to leverage existing regional assets to support the implementation of economic development strategies that make it easier for businesses to start and grow. EDA’s flexible programs and structure enable nimble operations and allow for innovation and responsiveness to changing economic needs and conditions faced by its local and state government partners. Grants made under these programs are designed to leverage existing regional assets to support the implementation of economic development strategies that advance new ideas and creative approaches to advance economic prosperity in distressed communities.
EDA provides economic development financial assistance to communities so they can encourage innovation and entrepreneurship in a way that works best for them. Through its network of regionally-based staff and portfolio of flexible grant tools, EDA helps communities experiencing economic distress, take control of their future and position themselves for economic prosperity. In addition, EDA leads the integration of economic development resources from all sources, including federal, state, local and philanthropic, to ensure we are best leveraging our investments and achieving better outcomes for communities across America.
For more information, please visit their website at https://www.eda.gov/sites/default/files/2024-01/ EDA_Funding_Opportunities.pdf.
Rural Infrastructure Fund The Rural Infrastructure Fund is a resource available to rural communities in Florida to facilitate the creation, capital investment, and the strengthening and diversification of rural economies by promoting tourism, trade and economic development.
This program is intended to provide additional financial assistance that will enable rural communities to better access other infrastructure funding programs, including those offered by the US Department of Agriculture-Rural Development (USDA-RD) and the US Department of Commerce-Economic Development Administration (EDA). Successful applicants will be those who achieve the maximum level of funds by ensuring that all possible sources of local, federal and other funding have been utilized and by ensuring that every possible effort has been made to minimize administrative expenses, including those relating to the use of consultants.
Rural Community Development Revolving Loan Program The Rural Community Development Revolving Loan Program provides financial assistance to local governments in the form of either a loan or loan guaranty. The purpose of the program is to provide financial assistance for a specific project that will lead to the creation of new jobs and increase the economic vitality and diversification of Florida’s rural counties. The maximum amount of financial assistance available for the program is $560,000. There is no minimum amount. The program is not designed to be the sole source of financing for any project. Successful program applicants will be those which achieve the maximum level of leverage of these funds by ensuring that every effort is made to utilize local, federal and other state funding resources in addition to this program. No application or administrative fees will be charged for the use of this program.
For more information, go to: https://floridajobs.org/community-planning-and- development/rural-community-programs/rural-infrastructure-fund
The Rural Community Development Revolving Loan (RCDRL) Program was created by the 1996 Legislature to facilitate the use of existing federal, state, and local financial resources by providing local governments with access to financial assistance to further promote the economic viability of rural communities.
This program is intended to be highly flexible, and the loan amounts will vary depending on the need of applicants. It will provide term loans to local governments, or economic development organizations substantially underwritten by a unit of local government; within counties with populations of 75,000 or fewer or a contiguous county of 125,000 or fewer as stated in section 288.065, Florida Statutes. The long-term goals of the RCDRL include the creation of jobs for the residents of rural Florida and an increase in economic vitality and diversification for these areas.
For more information, please contact: https:// www.floridajobs.org/RLF