Date: Presented at StormCon 2024 in Reno, Nevada on August 28, 2024
Speakers: Mary Fasano & Rares Petrica
Credits: 0.75 PDH / Approved for all Envirocert International, Inc. (ECI) Certifications: Approval #PDH-0042
In this session, speakers will provide an overview of the Water Infrastructure Finance and Innovation Act (WIFIA) program and describe WIFIA’s water infrastructure-related eligibilities and priorities, including stormwater projects and climate resiliency projects. Additionally, speakers will discuss the benefits of WIFIA financing, including long repayment terms, project bundling, and flexible repayment structures. Finally, speakers will describe, through the case study described below, how the WIFIA program can provide critical funding for stormwater infrastructure upgrades. In 2023, the City of Fort Lauderdale, Florida, received a $120 million WIFIA loan to finance seven crucial stormwater infrastructure projects that will benefit entire neighborhoods. The projects encompass a wide range of stormwater infrastructure improvements, including the replacement and installation of storm pipes, exfiltration trenches, swales, water quality structures, pump stations, tidal valves, permeable pavers, created wetlands, canal/creek maintenance and sea walls. These improvements will help manage stormwater in the city’s most flood-prone neighborhoods, based on the historical flooding documentation. WIFIA financing will save the city approximately $26 million over the life of the loan.
Session duration: 45 minutes
About the Presenters
Mary Fasano is an Underwriter for the WIFIA Program in the Office of Water at the U.S. Environmental Protection Agency, joining the team in 2020. Prior to WIFIA, Mary worked in the commercial banking industry underwriting tax-exempt bond deals for non-profit organizations. Mary has also worked in the community development finance industry where she structured complex capital transactions to finance economic development projects utilizing tax exempt financing, and a variety of tax credits. Mary received her B.A. Degree from St. Michael’s College and her graduate degree in Community Economic Development from Southern New Hampshire University.
Rares V. Petrica, P.E., serves as the Senior Project Manager for the City of Fort Lauderdale’s Engineering Division, where he leads the Stormwater project managers responsible for overseeing the City’s stormwater/seawall Community Investment Plan Projects and Operations/Maintenance projects. Recently, he successfully coordinated the City’s $290 million Stormwater Master Plan. This comprehensive plan involved creating a city-wide hydrologic and hydraulic model to develop construction-ready drainage plans and specifications, which facilitated approximately $290 million in construction to implement drainage improvements across the most flood-prone neighborhoods.Rares Petrica is a graduate of the University of Florida. Before joining the Fort Lauderdale team in 2015, Mr. Petrica managed various roadway and stormwater projects, from design to construction, for Broward County, Florida. As a private consultant, his experience spans a wide range of land development projects, including airports, hospitals, schools, and municipal, commercial, and residential developments.
Course Includes
- 1 Lesson
- Course Certificate
