ALBANY, NY, AUG 15, 2017 -- Governor Andrew Cuomo announced that $60.7 million in grants, in addition to interest-free and low-cost loans, have been approved by the New York State Environmental Facilities Corporation Board of Directors to support vital drinking water and wastewater infrastructure projects across New York. The Board's approval includes nearly $8.4 million in grants awarded under the Water Infrastructure Improvement Act.
"This funding is critical for communities in every corner of the state and will help protect public health, preserve our natural resources, and lay the groundwork for future growth," said Governor Cuomo. "Upgrading aging infrastructure is top priority, and this funding will help communities rebuild for a stronger, healthier and more sustainable New York."
To date, $225 million in WIIA grants have leveraged more than $1 billion in total project costs for over 120 projects across New York State. These grants combined with low or no-interest loans have resulted in more than $629 million in taxpayer savings.
Additionally, this year under the $2.5 billion Clean Water Infrastructure Act of 2017, $255 million in additional funding was made available for vital drinking water and wastewater infrastructure upgrades.
The grants approved, along with the interest-free and low-interest loans provided by EFC allow municipalities to finance these projects at a significantly lower rate than financing on their own.