Federal Money Could Cover Almost Half The Safe & Sound Plan Cost

Ellicott City MD

04 October, 2021

12:33 PM

Description

HOWARD COUNTY, MD — County officials have submitted an application for Water Infrastructure Finance and Innovation Act funding from the U.S. Environmental Protection Agency to finance the Extended North Tunnel and other flood mitigation projects a part of the Ellicott City Safe & Sound plan. If approved, the loan would cover nearly the entire cost of the Extended North Tunnel, which serves as the centerpiece of the flood mitigation plan. The County Council authorized borrowing up to $75 million in funds through the WIFIA program earlier in 2021. "Our commitment to keeping Ellicott City safe and sound has not wavered, and this critical funding for the now Extended North Tunnel and our other projects paves the way for us to be a national example for implementing flood mitigation efforts for a historic town," Howard County Executive Calvin Ball said. "I'm encouraged by the progress we've made to date – in fewer than three years we've already secured more than $56 million to support the Safe and Sound plan and associated flood mitigation and stormwater enhancements in Ellicott City, including more than $20 million in assistance from the state of Maryland and nearly $30 million in county funding." Howard County is among 55 organizations nationwide that were selected to apply for WIFIA funding. If approved by the EPA, funds are anticipated to be available in the third quarter of 2022. The county can be approved by the EPA to borrow up to 49 percent of the cost of the Safe and Sound plan through the WIFIA loan program while the remaining 51 percent of the costs will be funded by a combination of county and other sources.