Dive brief:
- The US Army Corps of Engineers has opened applications for a new $7.5 billion low-cost loan program that will help fund $15 billion worth of dam safety projects, the agency announced last month. The money is authorized through the Corps’ 2014 Water Infrastructure Funding Program.
- Loans are available for security projects with eligible costs over $20 million and those listed National Inventory of Damsa database authorized by Congress, USACE said.
- Currently, the program is limited to dam projects that are not federally owned, operated, and maintained. It will pay up to 49% of project costs, or up to 80% for projects in disadvantaged communities.
Diving knowledge:
The country’s stock of dams is increasingly decrepit: dams in the National Inventory are an average of 61 years old, and The rehabilitation cost $157.5 billion just the 88,616 non-federal dams deficient, according to research by the Association of State Dam Safety Officials. The price tag to repair just the most critical dams is estimated at $34.1 billion.
Rehabilitation becomes necessary as dams age, technical standards and techniques evolve, and downstream populations and land use change. Many dam owners, especially private dams, have difficulty financing maintenance, however Postponing maintenance can lead to catastrophic failures.
In addition, the extreme weather induced by climate change is stressing aging dams around the country and push them to their breaking points. USACE hopes the new funding stream will help address some of these critical deficiencies.
“The Corps’ water infrastructure funding program provides a significant new tool that can be used to keep the nation’s infrastructure resilient and reliable for generations,” said Michael Connor, Assistant Secretary of the Army d ‘Civil Works, in the statement. “As we face unprecedented climate challenges that require strong and effective infrastructure, this new funding program will enable continued investment by our local communities in their infrastructure.”
As maintenance, repair and rehabilitation work is postponed, the price to do so continues to rise, warned the Association of State Dam Safety Officials. This is due to a combination of factors, including higher costs of construction materials and labor and the greater breadth of engineering studies and analysis, according to their research.
