Grants, Interest-Free and Low-Cost Loans Provide Taxpayer Savings in 12 New York Communities
ALBANY, NY — September 19, 2017 — Governor Andrew M. Cuomo today announced that over $69 million in grants, interest-free, and low-cost loans has been approved by the New York State Environmental Facilities Corporation Board of Directors to support critical drinking water and wastewater infrastructure projects across New York. The Board’s approval includes nearly $1.4 million in grants that were previously awarded under the Water Infrastructure Improvement Act. Herein is a truncated telling specific to hyper-local communities
“Water quality and infrastructure are essential to sustaining and growing safe, healthy communities across New York,” Governor Cuomo said. “These investments build on the state’s efforts to provide clean water to residents and visitors, ensure wastewater systems are built to last, and improve water quality overall for a stronger, healthier New York.”
To date, $225 million in WIIA grants have leveraged over $1 billion in total project costs for over 120 projects in New York State. These grants combined with low or no-interest loans have resulted in over $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.
Grants approved at a board meeting on Thursday, September 14, 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.
The projects approved include:
• City of Kingston (Ulster County) – $2.4 million, including a $588,000 WIIA grant, and a $1.8 million zero-interest loan to finance costs associated with the planning, design and construction of improvements to the City of Kingston Wastewater Treatment Plant.
• Village of Washingtonville (Orange County) – $13.2 million, including a $6.6 million zero-interest loan and a $6.6 million low-interest loan to finance costs associated with the planning, design and construction of the upgrade and expansion of the Village’s Wastewater Treatment Plant.
• New Rochelle, Westchester County – $13.4 million, including a $6.7 million zero-interest loan and a $6.7 million low-interest loan to finance costs associated with construction of upgrades and enhancements at Westchester County’s New Rochelle Wastewater Treatment Plant.
• City of Yonkers, Westchester County – $8.4 million, including a $4.2 million zero-interest loan and a $4.2 million low-interest loan to finance costs associated with construction of Phase III heating, ventilating and air conditioning equipment replacement and odor control Improvements at the Yonkers Joint Wastewater Treatment Plant.