Interest rate increases have been a big headwind for our project. We recently met with the U.S. Army Corps of Engineers (USACE) about the Corps Water Infrastructure Financing Plan (CWIFP). FLTF provided input to the rulemaking on this program last year, with $7.5 billion appropriated to this program. Rule making will be completed later this year, and funds available in 2024. These are for very large projects and the USACE was very confident that the FLTF project qualifies. Some of the benefits are listed below, but this would give us a rate below other available financing and get us back to an interest rate much closer to the facilities that were available to the project with the USDA loan.
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