Public Works Board approves $85M in infrastructure loans
From a domestic water project in Spokane to a sewer project in Westport, the Washington State Public Works Board has awarded over $85M in loans for pre-construction and construction activities for thirty projects across the state. Applicants had requested more than $248M for 74 different projects, and the board approved qualifying projects from a rated and ranked list until all available funds were exhausted.
Reflecting on this 2019 funding cycle, and the state of public infrastructure in Washington, board Chair Scott Hutsell stated, “This is a great time for Washington. The importance of infrastructure is gaining recognition at all levels, and this funding cycle is a start to working on the issues facing the state. The cross-section of projects represented in these applications and awards is indicative of the need in all systems and areas of the state.”
“Hopefully this is only the beginning. We will continue, with our partner agencies, to help address the needs of the state through technical assistance, training, and financing,” he added.
AGC has been a long-time supporter of the Public Works Board and the Public Works Trust Fund. This capital funding, however, has been “raided” by the Legislature in recent years to help balance the state’s operating budget. While this package of $85M in loans is positive, it is a far cry to the $200+ million in annual loans that the Board was able to make in previous years. AGC will continue to work to restore the Public Works Trust Fund.
“These investments strengthen communities by supporting reliable infrastructure that serves as the foundation for regional economies to achieve sustainable growth and prosperity,” said Washington State Commerce Director Lisa Brown.
Find the complete list of the projects awarded and contact information for each here.
Since inception, the Washington State Public Works Board has funded nearly 2,000 projects and provided over $2.8B in loans to local governments. Visit the Public Works Board webpage for more information.