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White House Reveals Half of Infrastructure Projects08-23-22 | News

White House Reveals Half of Infrastructure Projects Require Fund Matching

Funding Requirements Range from 10% to 75%
by Staff

The National League of Cities has found that the municipal bonds is the most common way for cities to meet the cost matching requirements.

Within the guidelines posted by the White House for the Infrastructure Investment and Jobs Act several subcategories of projects have a cost share that requires fund matching for the project. The cost share generally falls on the cities to meet the additional requirements that reach 75% of the project cost.

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Projects that fall under Building Resilient Infrastructure and Communities, the National Electric Vehicle Infrastructure Formula Program, Watershed Rehabilitation, Water and Groundwater Storage, Water Recycling, the Dam Safety Program, and Water-Related Environmental Infrastructure Assistance all require cost sharing between 15 percent to 75 percent under certain conditions.

In post by the National League of Cities, the association commented on the cost sharing in saying, "There remains significant uncertainty about the timing of both the Federal grants and when the matching fund contributions will need to be made, but financing discussions should be a part of every city's infrastructure planning process, particularly in connection with competitive grant applications."

https://www.nlc.org/article/2022/08/15/muni-bonds-gear-up-to-support-city-infrastructure-investments/

Filed Under: INFRASTRUCTURE, NLC, CITIES, FUNDING, LASN
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