Allison BarnetteNew York Gov. Kathy Hochul has announced a pair of Environmental Facilities Corporation (EFC) commitments to improve water and wastewater infrastructure across the state.
The EFC Board has allowed $37 million in assistance to municipalities for new projects statewide and a $728 million bond sale to refinance existing water infrastructure debt service, saving rate payers an estimated $172 million in interest.
The $37 million comprises both low-cost financing and grants to support critical water projects, such as removing emerging contaminants from drinking water, replacing lead service lines and modernizing aging systems across the state of New York.
The town of Hurley will receive a $1.3 million grant that is the first of its kind. Funded by the federal Infrastructure Investment and Jobs Act (IIJA), the town will be the first in the state to utilize IIJA funds to investigate emerging contaminants. Hurley plans to investigate possible groundwater contaminants at the town’s closed landfill site.
Funding also impacts other communities across the state, including Massena, Port Washington, Peekskill and Warwick. These investments are designed to ensure clean water access, protect public health, reduce the financial burden on communities and create good-paying jobs.
EFC assists New York communities by delivering financial and technical resources for water infrastructure initiatives through grant and loan programs, such as the Clean Water and Drinking Water State Revolving Funds.
With support of both federal and state resources, EFC provides communities with below-market interest rates and extended repayment terms, enabling municipalities to undertake essential water infrastructure projects—such as upgrading wastewater treatment facilities, modernizing drinking water systems and addressing contaminants like PFAS—while easing the financial impact on local ratepayers.
Image by Robert Owen-Wahl from Pixabay
