Latest news with #EnvironmentalFacilitiesCorporationBoardofDirectors
Yahoo
23-05-2025
- Business
- Yahoo
Otego to get $3.9 million for water projects
The village of Otego is among municipalities getting state funding for water projects. Gov. Kathy Hochul announced Thursday, May 22 that the Environmental Facilities Corporation Board of Directors approved more than $37 million in financial assistance for water infrastructure improvement projects across the state. "The board's 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, from treatment processes to remove emerging contaminants from drinking water, to replacing lead service lines and modernizing aging systems," a news release from Hochul's office said. 'This is how you lead: invest boldly, move fast and protect your people,' Hochul said. 'This $37 million investment jumpstarts critical projects to fix aging pipes, tackle emerging contaminants and upgrade infrastructure, all while keeping costs down for communities and creating good-paying local jobs.' Otego will get $3.9 million in grants for the installation of a redundant production well, replacement of asbestos-lined pipe and exposed water main, relocation of a well house treatment building to a higher elevation, replacement of a booster pump station, and the installation of a tank mixer, according to the release. EFC's board approved 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 infrastructure projects. State Revolving Fund interest rates are below market rate, and with long repayment periods, and communities may save significantly on debt service compared to traditional financing, the release stated. State Health Commissioner Dr. James McDonald said, 'This latest round of funding means critical infrastructure projects will be affordable to municipalities looking to protect their communities without breaking the bank. Through our Bureau of Water Supply Protection, the Department of Health will continue to work with our state and local partners to protect the health and safety of New Yorkers by providing technical assistance and monitoring for emerging contaminants, lead and other chemicals.'
Yahoo
17-04-2025
- Business
- Yahoo
Three NNY municipalities get state grants for water infrastructure projects
WATERTOWN, N.Y. (WWTI) – Three north country municipalities are getting access to grants and low-cost financing to improve water infrastructure. New York Governor Kathy Hochul today announced the Environmental Facilities Corporation Board of Directors approved over $175 million in financial assistance for water infrastructure improvement projects across the state. Work on Carthage bridge project starts The board's 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 projects more affordable, reducing the need for higher rate increases to fund improvements. Here is a breakdown of the municipalities in the area that will be getting funding: Village of Clayton – $8.2 million grant and low-cost financing package for the replacement of the aged raw drinking water intake and approximately 25,000 linear feet of aged water main and associated appurtenances. Town of Diana – $5.1 million grant and low-cost financing package for improvements at existing Well Nos. 1 and 3, installation of an approximately 350,000-gallon drinking water storage tank and new water mains. Village of Lyons Falls – $1.6 million grant and interest-free financing package for the planning, design, and construction of wastewater treatment plant improvements. The Environmental Facilities Corporation is proud to support communities across New York State that invest in clean, safe, and reliable water infrastructure. These approvals are symbolic of Governor Hochul's commitment to affordability, public health, environmental protection, and economic resilience. By making these investments affordable, we're helping municipalities tackle urgent infrastructure needs while minimizing the financial impact of these projects on local ratepayers. Environmental Facilities Corporation President & CEO Maureen A. Coleman The EFC Board approved grants and financing to local governments from the Clean Water and Drinking Water State Revolving Funds. This is a mix of federal and state dollars dedicated to financing community water infrastructure projects. State Revolving Fund interest rates are below market rate, and with long repayment periods, communities may save significantly on debt service compared to traditional financing. EFC's board also approved executing previously awarded grants from the state's Water Infrastructure Improvement program. The board's approval is a critical step in the funding process and will allow communities to access these funds for project implementation. 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 ensure cost is not a barrier for project implementation. State residents can track projects benefiting from EFC's investments using the interactive project impact dashboard. The map can be filtered by funding type and shows a project's stage of construction. Each project announced today will be included on the map once the community executes a funding agreement with EFC. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
