On August 5, New York officials announced that the state’s Environmental Facilities Corporation has approved more than $47 million in financings for critical infrastructure projects across the state to protect or improve water quality. The grants, interest-free loans and low-cost loans will help 11 municipalities undertake their drinking water and wastewater projects with innovative financing solutions.
"It is more important than ever that we continue to invest in our water infrastructure and help ensure clean water for New York residents," Governor Andrew Cuomo said. "With this funding we are supporting environmentally-friendly projects that will improve water quality and protect public health across this great state."
EFC financings can provide cost savings through lower interest rates and reduced issuance costs. Several of the financings approved today began with EFC Engineering Planning Grants to help communities jump start their work early on with funding for initial planning. EFC additionally offers technical project assistance that may not be available from other financial institutions.
The funds includes financing through the Clean Water State Revolving Fund (CWSRF) and Drinking Water State Revolving Fund (DWSRF) and grants pursuant to the Water Infrastructure Improvement Act (WIIA).
The project financings approved at the August 5 meeting include:
Drinking Water Projects:
- Village of Catskill in Greene County - $2,914,319 WIIA grant, $695,227 in short-term, interest-free financing and $1,390,454 short-term, low-interest financing to replace aging water mains, reconstruct a sedimentation basin, build a new water storage tank and upgrade the water filtration plant.
- Town of Denmark in Lewis County - $577,207 in long-term, interest-free financing to replace portions of a water distribution system and construct a new storage tank.
- Onondaga County Water Authority - $1,500,000 WIIA grant to install 3.5 miles of new water mains along the north shore of Oneida Lake.
- Town of Pamelia in Jefferson County - $3,000,000 WIIA grant and $13,477,234 in short-term, interest-free financing to install 75,500 linear feet of new water mains, improve its water storage tank site, upgrade data control computer systems and replace 11,620 linear feet of existing water mains.
Clean Water Projects:
- City of Amsterdam in Montgomery County - $5,132,500 in long-term, interest-free financing for the planning, design and construction of a sewer overflow improvement project.
- Town of Greenville in Greene County - $5,041,554 in long-term, interest-free financing for the extension and improvement of its sewer plant.
- Town of Machias in Cattaraugus County - $6,942,557 in long-term, interest-free financing for the planning, design and construction of a sewer collection system, and a pump station and main to the Village of Arcade. The project was also supported with a previous Engineering Planning Grant.
- City of Middletown in Orange County - $1,084,302 in long-term, interest-free financing to correct infiltration and inflow conditions at its sewer collection system.
- Ontario County - $1,670,000 WIIA grant, $1,634,063 in short term, interest free financing and $1,634,062 in short-term, low-interest financing to improve the Honeoye Lake Wastewater Treatment Plant. The project was also supported with a previous Engineering Planning Grant.
- Town of Owego in Tioga County - $56,998 WIIA grant for sanitary sewer improvements.
- City of White Plains in Westchester County - $362,895 WIIA grant for sanitary sewer system improvements.
The CWSRF and the DWSRF are the EFC's core funding programs. With its partner DEC, EFC is responsible for the operation and administration of the CWSRF. The CWSRF allows EFC to provide interest-free or low-interest rate financing and grants to support a variety of eligible water quality improvement projects. EFC similarly operates and administers the DWSRF, with its partner DOH, provide interest-free or low-interest rate financing and grants for drinking water infrastructure projects.
