Governor Kathy Hochul stated that the Board of Directors of the Environmental Facilities Corporation approved $51 million in funding, which includes low-cost borrowing and previously announced grants.
The Board’s action grants municipalities access to the funds needed to advance important water and sewer infrastructure projects, such as the replacement of lead service connections, treatment methods to remove emerging pollutants from drinking water, and modernization of aging systems.
The Board also approved a $572,575,000 loan to the New York City Municipal Water Finance Authority (NYCMWFA) to refinance short-term financings for 11 NYCMWFA wastewater and drinking water projects and to reimburse past EFC bonds that funded NYCMWFA projects.
The refunding is expected to save New York City ratepayers around $22 million over the next ten years.”New York is committed to providing communities with the resources needed to upgrade water systems and improve water quality,” stated Governor Hochul.
“We are continuing our nation-leading clean water investments in this year’s budget, with $500 million for clean water infrastructure, helping to protect the health and safety of our residents, preserve our environment, and improve quality of life for all with access to safe, reliable, and clean water.”
“Today’s announcement on the refunding transaction highlights EFC’s proactive approach to maximizing resources for water infrastructure investments,” said Environmental Facilities Corporation President and CEO Maureen A. Coleman. One of our largest debtors will benefit from interest rate relief as a result of the deal.
Governor Hochul is thanked by EFC for her dedication to clean water and for allocating $425 million for EFC’s next round of award funding.
This round of grant financing is made possible in part by the Environmental Bond Act, which was approved by voters in November 2022. We encourage communities with water infrastructure requirements to submit by the deadline of July 28 and to contact our Community support Teams if they require support.”
“Protecting New York’s water quality is one of Governor Hochul’s top priorities,” stated Department of Environmental Conservation Commissioner and EFC Board Chair Basil Seggos.
Under her leadership, and with increased support for water quality funding in this year’s State Budget, New York remains committed to investments in projects to improve, repair, and replace critical water infrastructure across the state, as well as to protecting communities from pollution that could be harmful to the public, the environment, and our economy.”
“I am grateful to Governor Hochul for her unwavering commitment to assist New York communities with resources for monitoring and safeguarding their drinking water,” stated Acting State Health Commissioner Dr. James McDonald. The $51 million awarded by the Environmental Facilities Corporation will allow local governments to complete crucial modifications to their drinking water infrastructure, protecting residents’ health and safety.”
“New York continues to lead the nation in providing much-needed funds to help make the state’s water infrastructure more affordable for local governments,” said Secretary of State Robert J. Rodriguez.
The $51 million approved by the Environmental Facilities Corporation will provide communities with resources to strengthen resiliency, combat climate change, and provide the most advanced infrastructure to bring green jobs that will help create environmentally sound communities for future generations.
The fund approval of clean water project
Long-term leveraged financing of $80,225,467 provided by the New York Municipal Water Finance Authority and the New York City Department of Environmental Protection for the following projects:
1-Wards Island Water Pollution Control Plant Final Settling Tank Reconstruction
2-Bowery Bay Water Pollution Control Plant Power Distribution System Upgrades
3-Tallman Island Water Pollution Control Plant Phase I Biological Nutrient Removal Upgrades
4-Various Water Pollution Control Plants Phase II Biological Nutrient Removal Carbon Addition
5-Rockaway WWTP Level 1 Biological Nutrient Removal Upgrades
6-Inner Harbor Combined Sewer Overflow Gowanus Pump Station and Flushing Tunnel Reconstruction
7-Coney Island Pollution Control Plant Replacement of Main Sewage Pumps
8-North River Water Pollution Control Plant Cogeneration and Electrification Project
9-Coney Island and North River Water Pollution Control Plants Total Chlorine Reduction
The fund approval of drinking water project
1-Rensselaer County’s Averill Park Central School District received a $90,000 WIIA funding to construct granular activated carbon vessels for PFAS treatment at Algonquin Middle School.
2-Bethpage Water District in Nassau County received a $3 million WIIA grant to install an ion exchange system to remove nitrate and perchlorate, as well as an Advanced Oxidation Process treatment to remove 1,4-dioxane.
3-Hicksville Water District, Nassau County.
4-Plant No. 9 will get a $8,927,400 WIIA award to implement an advanced oxidation process and granular activated carbon treatment equipment to remove 1,4-dioxane, perfluorooctanoic acid (PFOA), and perfluorooctanesulfonic acid (PFOS).
5-WIIA award of $5,651,400 for the installation of advanced oxidation processes and granular activated carbon treatment systems at Plant No. 5 to remove 1,4-dioxane, PFOA, and PFOS.
6-Jefferson County Development Authority – $12,485,771 in short-term market-rate financing for the replacement of approximately 13,000 linear feet of current transmission main and associated appurtenances.
7-City of Kingston, Ulster County – $16,420,000 in short-term market-rate financing and a $3,000,000 WIIA award for Cooper Lake Dam and Reservoir restoration, as well as the construction of a new intake structure and associated pipe.
8-The Village of Red Hook in Dutchess County received a $720,000 short-term market-rate loan and a $1,080,000 WIIA grant to decommission Well #4, replace approximately 2,400 linear feet of watermain, hydrants, and lead service connections on Graves and Cherry Streets, rehab the interior of the 225,000-gallon water tower at the end of Tower Street, add a booster pump to the interconnection between the Village and Town water systems, and replace.
9-Municipal Water Finance Authority of New York City and New York City Department of Environmental Protection
10-Long-term leveraged financing of $22,000,000 for the design and construction of the Croton Water Filtration Plant and related facilities.
11-Long-term leveraged financing of $100,000,000 for the excavation and construction of Shafts 17B-1 and 18B-1 as part of the City Tunnel No. 3, Stage 2 in Queens.
Source:Governor Kathy Hochul
