Eligibility for the Industrial Finance Program

The Industrial Finance Program projects that have a public benefit may quality as tax exempt if 95% or more of the net proceeds are used to fund these following types of facilities:

  • Solid waste facilities and equipment for the handling, disposal, transportation, and recycling of solid waste such as municipal solid waste landfills, construction and demolition landfills, ash-fills, hauling/transport equipment and transfer stations, resource recovery facilities, and recycling facilities and equipment. Bond Counsel options as to eligibility are usually required.
  • Sewage treatment facilities for privately owned wastewater treatment facilities serving the public, including sewers, piping, force mains, pumps, clarifiers, and sludge handling facilities that fall below D.O.B. limits. 
  • Drinking water supply and management facilities such as mains, piping, wells, treatment works, finished water reservoirs, and other storage facilities for public use.
  • Industrial hazardous waste disposal facilities for landfill and incineration of hazardous waste, and capital costs associated with Brownfields site remediation. 

Other types of environmental facilities may be financed with taxable IFP bonds. In certain cases, the most economical way to finance a particular project may be to use funding from both the IFP and the Clean Water State Revolving Fund and Drinking Water State Revolving Fund programs.