Created in 2002, the fund provides up-front capital necessary to allow for proper planning of vital water and wastewater projects. The 2005 and 2012 Legislatures broadened project eligibility to include master plans, conservation plans, economic development plans, infrastructure plans and energy efficiency audits. Additionally, the 2012 Legislature eliminated the requirement to repay the fund if the project moves forward and the funding is now delivered as 100% grant. Grants are determined on a sliding scale. Through December 31, 2012, NMFA has made 92 grants totaling $2,585,718 and has approved an additional 31 projects pending closure totaling $1,343,019.