Sunnyvale Successfully Increases its SRF Loan

In 2016, the City of Sunnyvale completed an agreement with the California State Water Resources Control Board to receive $127,068,522 in funding from the Clean Water State Revolving Fund (SRF). This funding is part of the City’s effort to ensure the completion of the Sunnyvale Cleanwater Program, which includes numerous projects to modernize its wastewater treatment plant to ensure the reliable collection and cleaning of wastewater. Since then, the City of Sunnyvale has diligently worked to execute a second SRF loan to fund the Secondary Treatment & Dewatering (Main Package) and has successfully increased it from $288 million to $322 million.

Lower than the 5% interest rate that Sunnyvale would pay if it issued bonds now, this SRF funding provides an interest rate of 1.6%, avoiding over $300M in financing costs over the 30-year repayment period for the City of Sunnyvale. This significant, long-term savings for the City reduces customers’ rate increases.

The original loan financed the Headworks and Primary Treatment facilities, while the newer loan finances work associated with Secondary Treatment & Dewatering (Main Package). The Headworks and Primary Treatment facilities will remove solid material from the wastewater and reduce diesel emissions and odor before the secondary treatment process. The Secondary Treatment & Dewatering facilities biodegrade wastewater and remove nutrients to reduce the likelihood of algae blooms in the Bay.

To learn more about the Secondary Treatment & Dewatering (Main Package), please visit the Projects page.