The State Water Resources Control Board voted 5-0 on Sept. 1 to authorize its executive director or designee to execute a loan agreement of up to $25 million with the California Infrastructure and Economic Development Bank.
Under Resolution 2026-0034, the authorization includes up to $10 million for the Clean Water State Revolving Fund state match and $15 million for the Drinking Water State Revolving Fund state match, according to the board’s Sept. 1-2 meeting minutes. Board Member Nichole Morgan moved to adopt the resolution, and Board Member Sean Maguire seconded it. All five members present voted aye; there were no nays, absences or abstentions.
The action creates borrowing capacity for the state matches, but the minutes do not specify the loan’s interest rate, repayment schedule or other financing terms. They also do not identify projects or jurisdictions that would benefit from the funds or say when any money would be disbursed. Those details would need to be confirmed through the executed loan agreement and related staff materials.
