Governor Kathy Hochul has announced the Environmental Facilities Corporation Board of Directors approved $41 million in funding that includes low-cost loans and previously awarded grants.
That is enabling the recipients to access these loan and grant funds and move their water and sewer infrastructure projects forward.
The Board also approved an $879 million leveraged bond financing to provide capital for various wastewater and drinking water projects for the New York City Municipal Water Finance Authority (NYCMWFA) and to refund certain prior bonds.
Refunding bond sales deliver additional savings for EFC's municipal partners by refinancing the original bonds that funded their projects at an even lower interest rate. The transaction is estimated to save $18 million for New York City ratepayers over the next 10 years.
Clean Water Project Funding Approved:
Village of East Syracuse in Onondaga County - $87,156 WIIA grant and $1,009,052 in long-term, interest-free financing for the second phase of an infiltration/inflow correction and sanitary sewer overflow mitigation project.
Village of Franklinville in Cattaraugus County - $5,050,000 in short-term, interest-free financing for wastewater treatment facility and collection system improvements.
New York City Municipal Water Finance Authority - $284,783,326 in long-term leveraged financing to design and construct various combined sewer overflow, wastewater collection system, and treatment plant improvement projects.
Suffolk County - $4,644,642 WIIA grant and $3,400,000 in short-term, market-rate financing to plan, design and manage construction of the Suffolk County Coastal Resiliency Initiative to sewer parcels currently using onsite systems in the Carlls River and Forge River watersheds
City of Troy in Rensselaer County -$1,825,000 CWSRF grant and $6,179,184 in short-term, interest-free financing for the design and construction of combined sewer overflow abatement projects in the city, and in support of the Albany Pool Combined Sewer Overflow Long Term Control Plan.
Village of Williamsville in Erie County -$1,612,500 WIIA grant for sewer collection system improvements.
Town of Yorkshire in Cattaraugus County -$1,285,000 WIIA grant, $963,750 in short-term, interest-free financing and $2,891,250 in short-term, market-rate financing to plan, design and construct the Yorkshire Corners Sewer District.
Drinking Water Project Funding Approved:
Town of Cairo in Greene County - $1,607,457 in long-term, interest-free financing to develop additional groundwater source capacity; improve the Park Well site and existing finished water storage tank, distribution system upgrades and installation of new water meters and meter reading equipment.
Town of Crawford in Orange County -$2,311,680 WIIA grant, $711,329 in short-term, interest-free financing and $1,422,658 in short-term, market-rate financing for the construction of two production wells and a water treatment building, and installation of approximately 6,100 linear feet of water main to connect the treatment facility to the distribution system.
New York City Municipal Water Finance Authority - $150,000,000 in long-term leveraged financing for the design and construction of the Croton Water Filtration Plant and associated facilities.
Village of Nyack in Rockland County -$3,000,000 WIIA grant to replace approximately 13,000 linear feet of water main.
Oyster Bay Water District in Nassau County -$286,000 Intermunicipal Grant (IMG) for an emergency interconnection between the Oyster Bay Water District and Locust Valley Water District.
Westchester Joint Water Works in Westchester County - $3,200,000 IMG for the construction of a new ultraviolet light disinfection facility at the Rye Lake Pump Station.
Governor Hochul's FY 2023 Executive Budget proposes more than half a billion dollars in direct investment into clean water initiatives, including:
$500 million in clean water infrastructure funding, bringing the State's total clean water investment to $4.5 billion since 2017
$400 million - a record level of funding for the Environmental Protection Fund (EPF) - to support critical projects that work to mitigate the effects of climate change, improve agricultural resources, protect water sources, advance conservation efforts, and provide recreational opportunities.
$4 billion for the landmark Clean Water, Clean Air, and Green Jobs Environmental Bond Act. If approved by voters this fall, this historic initiative will provide the support New York State needs to restore critical environmental habitats; reduce flood risks; conserve additional lands and open spaces; protect and improve our water resources; and invest in climate change mitigation projects that will reduce pollution and lower carbon emissions. ■