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Rialto Water Services to Receive $68 Million Loan from the Environmental Protection Agency

March 14, 2022

Washington D.C. (March 14, 2022) –Ullico’s infrastructure business (UIF) is pleased to announce that Rialto Water Services (RWS), a UIF majority-owned company, was recently selected by the Environmental Protection Agency (EPA) to apply for financing made available through the Water Infrastructure Finance and Innovation Act (WIFIA). RWS, the City of Rialto and Rialto Utility Authority (RUA) entered into a public-private partnership (P3) under a concession model in 2012 and RWS is responsible for managing, maintaining, and upgrading the City of Rialto’s water and wastewater facilities. The WIFIA financing would go to support funding of improvements within the City of Rialto’s water and wastewater facilities.

The annual WIFIA process is extremely competitive and RWS was one of just 39 projects across the country selected for this year’s available funding. Per the selection, RWS is eligible for a $68 million WIFIA loan, which will be complemented with additional project financing, to fund targeted local improvements including:

  • A microgrid project slated to make the existing wastewater treatment plant energy self-sufficient and more reliable, reduce its carbon footprint and eliminate electricity cost to ratepayers
  • The creation of the Lake Rialto Habitat Management and Community Open Space Project to assist with the stewardship of the Santa Ana River watershed
  • Security upgrades to the plant and cybersecurity improvements
  • Several other capital improvement projects to update and upgrade the water and wastewater facilities

“The proposed projects will ensure that the City of Rialto’s water and wastewater infrastructure are secure, resilient, and have sufficient capacity and reliability for sustainable growth. These projects will also move Rialto toward a more diversified energy plan and support the city’s efforts to protect the community from the impacts of climate change,” said Megan Matson, a Partner at Table Rock Capital, which is Ullico’s partner in RWS.

RWS, the City of Rialto and the Rialto Utility Authority are in the 10th year of a 30-year partnership. Working together, RWS already has delivered more than $41 million in capital improvements. These improvements were built with union labor under a Project Labor Agreement, creating over 50,000 total man hours and over 10,000 apprenticeship man hours to date.

“Ullico, through RWS and our partnership with the City, is committed to continuing to bring value to the citizens of Rialto through the P3 model and through the several improvements that will be undertaken with WIFIA financing. In the past decade, our partnership with the City of Rialto and the RUA has supported job creation, employee retention and development, community engagement and local economic development. Good infrastructure investments begin and end with these elements and the positive support from the EPA through the selection for a WIFIA loan is further recognition of the success of this partnership. We will continue to work hard to realize better system performance, better environmental outcomes, and reduced costs for the City of Rialto,” said Sonia Axter, Head of Asset Management for Ullico Infrastructure Fund.

About Ullico

For more than 90 years, Ullico has been a proud member of the labor movement, keeping union families safe and secure. In 2010, the Ullico Infrastructure Fund (UIF) was established to assist in the construction, maintenance and refurbishment of America’s infrastructure. UIF currently has over $4 billion in investor commitments on behalf of over 200 investors, with 21 portfolio investments across water, wastewater, telecommunications, electricity transmission, power generation, transportation and gas transmission sub-sectors and is exploring opportunities in all infrastructure related sub-sectors.

From insurance products that protect union members, leaders and employers, to investments in building and infrastructure projects that have created thousands of union jobs, our customers continue to trust us with protecting their families, employees and investments. The Ullico Inc. Family of Companies includes: The Union Labor Life Insurance Company; Ullico Casualty Group, LLC; Ullico Investment Company, LLC (Member FINRA/SIPC); and Ullico Investment Advisors, Inc. For additional information, visit

Ullico Infrastructure Tax-Exempt Fund, LP: and Ullico Infrastructure Taxable Fund, LP

The Ullico Infrastructure Tax-Exempt Fund, LP and the Ullico Infrastructure Taxable Fund, LP (together “Ullico Infrastructure Fund” or “UIF”) are Delaware limited partnerships designed to permit qualified institutional purchasers to invest in core infrastructure investments located in the United States and Canada. UIF and the units issued will not be registered under the Securities Act of 1933, as amended, the Investment Company Act of 1940, as amended, or under state securities laws. UIF is being offered and sold in reliance on the exemption from the securities registration requirements of the Securities Act set forth in Regulation D (the “Rule”). UIF will only be sold to “accredited investors” as that term is defined under the Rule. The portfolio consists primarily of private equity and debt investments in infrastructure companies located in the United States and Canada. UIF does not have a meaningful comparison because there is no benchmark available for private infrastructure investments. The Ullico Infrastructure Fund was incepted in November 2012.

Investment in UIF involves significant risk, including the potential risk of loss of a substantial portion (or all) of the amount invested. Private equity and debt investments are speculative and illiquid. Investments made in UIF may provide limited diversification, and the Fund may incur high management fees and expenses. Eligible investors should carefully read the UIF offering documents before making an investment.

Ullico Investment Advisors, Inc. (“UIA”) is a registered investment adviser with the United States Securities and Exchange Commission (“SEC”) in accordance with the Investment Advisers Act of 1940, as amended. Ullico Investment Advisors, Inc. has two majority owned subsidiaries: Ullico Infrastructure Management Company, LLC and UIA Investment Management, LLC. Both are Relying Advisers in reliance upon the SEC staff’s no-action letter to the American Bar Association dated January 18, 2012. The firm’s full list of composite and pooled fund descriptions is available upon request.