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Public Works Board Approves More Than $123M in Pre-Construction, Construction Loans

Public Works Board Approves More Than $123M in Pre-Construction, Construction Loans

Courtesy of Sigmund via Unsplash

The Washington State Public Works Board recently approved funding for its Traditional Programs Pre-Construction and Construction loans, which are designed to benefit local communities addressing infrastructure across six different systems: streets and roads, bridges, domestic water, stormwater, sanitary sewers, and solid waste and recycling.

In the pre-construction loans category, jurisdictions submitted seven applications for a total request of $3.15 million. Six of the applications passed the minimum scoring threshold and were eligible for an award. The Public Works Board approved full funding for all eligible applications for a total of nearly $3 million.

In the construction-loan category, jurisdictions submitted 68 applications for a total request of $252.2 million. Sixty-seven applications passed the minimum scoring threshold and were eligible for funding. The Public Works Board considered a rated and ranked list of applications, and approved eligible applications for funding until all available funds were exhausted. This enabled the Board to award 38 construction projects, for a total award of $120.5 million.