This report presents an evaluation of 379 drinking water and wastewater projects funded by ARC between fiscal years 2009 and 2016. The research team found that communities value the drinking water and wastewater projects, as evidenced by high demand, their key role in project completion, and how they serve to attract and actively leverage additional public and private sector funding. Findings showed the grant portfolio successfully targeted the neediest locations, led to significant improvements in local economic conditions, and met or surpassed locally determined performance goals. Room for improvement still exists in some areas, including better data gathering and evaluation processes.