The Western Virginia Water Authority (WVWA) serves several different localities: Roanoke City and Roanoke County as well as Franklin County. The Authority requested funds from VRA to finance improvements to its system-wide infrastructure to achieve environmentally safe and accurate water readings, to improve the system's efficiency and to minimize leaks in the system. This project was financed through VRA's Virginia Pooled Financing Program Fall 2011 issuance for about $17 million at an all-in-true issuance cost of 3.08%.
Currently, due to aging metering equipment and leak detection devices, 25% of WVWA's water is unaccounted for. Upgrading the dated metering infrastructure will benefit the Authority and all of its customers. The more efficient water metering systems will create operational savings, savings that WVWA will be able to use to help pay for the project and help keep its customers' bills affordable in years to come.
This project is another example of VRA funding a critical infrastructure project in a Virginia community.