$153M slated for local water infrastructure projects across the state

ALBANY | More than $153 million has been made available to help more than two dozen communities across New York State advance critical water and sewer infrastructure projects. The Environmental Facilities Corporation Board of Directors approved low-cost financing and state and federal grants to help local governments undertake critical upgrades — such as removing emerging contaminants from drinking water — without passing high costs on to ratepayers. These investments protect public health and the environment, reduce future risks, and support good-paying jobs. "Strong communities start with strong infrastructure," Gov. Hochul said. "Clean water is a basic human right, which is why we're prioritizing investments that ensure safe, affordable water for New Yorkers while protecting local taxpayers. These targeted grants and low-cost financing will empower communities to protect public health and our environment while building a more resilient future for generations to come." EFC's Board approved federal grants and financing to local governments from the Clean Water and Drinking Water State Revolving Funds – a mix of federal and state dollars dedicated to financing community water and sewer infrastructure projects. Funding from the federal Infrastructure Investment and Jobs Act continues to bolster the State Revolving Funds and accelerate progress on essential clean water and drinking water projects. The State Revolving Funds are New York's primary financial mechanism for advancing its clean water goals, delivering over $1 billion annually to communities statewide to construct clean water infrastructure. The State Revolving Funds can save communities as much as 75 percent in interest payments compared to borrowing in the municipal bond market. Repayments of principal and interest to EFC provide recurring revenue to EFC so it can offer financing to additional communities to rehabilitate, replace and modernize aging infrastructure in the State. Fully funded State Revolving Funds are necessary for New York to be prepared to meet the ongoing need for communities to repair, rehabilitate and modernize aging infrastructure in the future. Access to affordable financing increases investment in water infrastructure, which can prevent costly catastrophic system failures and alleviate pressure on utilities to raise rates, providing relief to many families already struggling to pay their water bills. The Board also approved previously awarded State grants from the Water Infrastructure Improvement program. EFC Board approval is a critical step in the funding process and will allow communities to access these funds and begin construction. Leveraging federal funding with State investments maximizes the impact of each dollar spent, empowering local communities to make critical system improvements they need to keep their residents safe and ensuring cost is not a barrier for project implementation. Funding was approved for projects in three local North Country municipalities: Town of Dannemora: $5.9 million grant and financing package for the construction of wastewater treatment plant improvements at the Lyon Mountain Wastewater Treatment Plant.Village of Lake Placid: $12.5 million grant and interest-free financing package for the planning, design, and construction of improvements to the wastewater treatment plant. Village of Rouses Point: $8 million grant and financing package for the construction of a new membrane water filtration plant having a capacity of 1 million gallons per day, and construction of a new water pump station to pump raw water to the new water treatment plant.

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$153M slated for local water infrastructure projects across the state

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