NYS to Fund $175M in EFC Loans For Kensico-Eastview, Hillview Work
ALBANY—The New York State Environmental Facilities Corporation recently approved $340 million in financial assistance for water infrastructure improvement projects across New York State. It includes a total of $175 million in loans for two major New York City Department of Environmental Protection projects in Westchester County.
The board’s March 13 approval authorizes municipal access to low-cost financing and previously announced grants to get shovels in the ground for critical water and sewer infrastructure projects. These investments help make critical environmental infrastructure projects more affordable, sustainable and manageable, thereby reducing the need for higher rate increases to fund improvements. The funding will advance wastewater treatment plant upgrades and improve drinking water quality, all crucial for safeguarding public health, protecting the environment and boosting local economies, the DEC noted.
Funding includes $250 million in subsidized financing for three critical drinking water projects in New York City. EFC is providing a $100-million loan for the Kensico-Eastview Connection project, the largest water-supply tunneling effort undertaken by the city in decades. The project will improve flexibility between vital water-supply facilities that serve more than nine million people in New York City and Westchester County.
EFC approved grants 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 infrastructure projects. The funding also includes over $22 million in grants already announced pursuant to the Water Infrastructure Improvement Program.
In other project funding in the Mid-Hudson Region, the Town of Cortlandt in Westchester County was named for a $794,750 state grant for the planning, design and construction of a pump station and force main to serve the Yeshiva Ohr Hameir Campus in the Furnace Brook Sewer District.
EFC is accepting applications for the Green Innovation Grant Program and Wastewater Infrastructure Engineering Planning Grants. Applications are due by 5:00 p.m. on April 11. Any community needing assistance with water infrastructure projects is encouraged to contact the EFC.