PENNVEST Lunch and Learn Series

PENNVEST Lunch and Learn SeriesPENNVEST Programmatic Financing (ProFi) – April 15, 2021

Welcome to today’s event. The session is being recorded and will be available on the PENNVEST website at pennvest.pa.govfollowing the event for future reference.

All attendees are muted during the event. Questions will be received through the Chat function of TEAMS as identified below.

• 1,086 Drinking Water• 1,698 Wastewater • 17 Brownfield • 175 Non-Point Source • 3 Acid Mine Drainage • 143 Stormwater • 907 Onlot Repairs • 19 Sewer Laterals Replaced• 173 New Sewer Connections

PENNVEST FinancingProjects Approved: 4,221 for a Total Funding of $9.6 Billion

$700 Million Budgeted for 2020-2021

Programmatic FinancingWhy ProFi?

ProFi is an innovative financing vehicle that was created to align PENNVEST’s financing to the annual or multi-year cash flow needs of utilities instead of the traditional project-specific lending strategy.

Programmatic Financing

ELIGIBLE APPLICANTS:

Applicants may be either public or private entities who are otherwise eligible for PENNVEST programs.


ELIGIBLE PROJECTS:

All projects otherwise eligible for financing under the State Revolving Fund and identified in a Capital Improvement Plan (“CIP”) approved by its governing body.


ELIGIBLE PROJECTS:

In addition to funding traditional drinking water or wastewater projects through ProFi, PENNVEST can fund stormwater projects, green infrastructure projects, conservation and other types of restoration projects for wetlands, streambanks, and watersheds through a non-point source ProFi funding award.

Programmatic FinancingFINANCING TERMS:

All loan at county cap rates 20 year repayment term – no extended terms Not eligible for grant If applicants want to be considered for grant or an extended

term, those projects must come in for the traditional program


APPLICATION PROCEDURE:

All applications can be submitted through the PENNVEST Portal using the current application.

PENNVEST, DEP, and DCED will rank all applications on the entire scope of the program that includes all project phases included in the application.

Programmatic FinancingAPPLICATION PROCEDURE:

All permits, environmental assessments, and land use letters need to be completed and the first phase of projects need to be shovel ready to submit the ProFi application.



Funding requests should cover 3 years or fewer of a CIP and should contain the total dollar amount requested, the maximum dollar value per year, and the number of years the request covers.


Applicants will need to include in their funding request:a. A copy of the adopted CIP with the anticipated projects forfunding identified;b. Documentation that the CIP has been approved by the entity’sgoverning body; andc. A copy of the resolution, ordinance, or other action authorizingthe ProFi funding request.



ProFi projects are not eligible for Letters of No Prejudice.

ProFi projects will not be eligible for changes to the scope of the project.


The cost effectiveness analysis will need to be conducted for projects in all phases in the application.

ProFi projects must satisfy all federal application and funding requirements to be considered by the PENNVEST Board.

Programmatic FinancingSUBSEQUENT PHASES:

PENNVEST Project Specialists will coordinate the review and processing of subsequent phases for a Pro Fi project and will coordinate notifying the supporting agencies and PENNVESTstaff when subsequent phases are ready for settlement.

Programmatic FinancingSUBSEQUENT PHASES:

Once additional phases are ready and satisfy all program requirements, a modified settlement will take place to release additional funds from the original award making them available for disbursement.

The final phase of a ProFi is expected to settle on any uncommitted funds within 3 years of the initial settlement.

DISBURSEMENT OF LOAN FUNDS:• Loan funds will be disbursed on a reimbursement basis.

• As the borrower incurs expenses and receives bills for eligible activities, the borrower will prepay and submit a payment request to PENNVEST electronically through the Funds Disbursement process.

• Funds are received electronically as reimbursement for costs incurred.

PENNVEST CONTACTS

Ken Anderson 717-783- 6799 [email protected]

Region 1 – Northwest PA

Dan [email protected]

Region 2 – Southwest PA

Tess Schlupp [email protected]

Rebecca Kennedy 717-783-4488 [email protected]

Region 3 – Southcentral PA

Region 4 – Northeast and Southeast PA

Region 5 – Northcentral PA

Leslie [email protected]

mailto:[email protected]





www.pennvest.pa.gov

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Questions?

YOU HAVE PROGRAMMATIC FINANCING?

Join us for our next Lunch and Learn Series

PENNVEST Lead Line Removal InitiativeApril 22, 2021 12:00 p.m. – 1:00 p.m.

Documents

PENNVEST Lunch and Learn Series