Governor Hochul secures $234.5 million for New York water infrastructure
(UI) — Governor Kathy Hochul announced that the Environmental Facilities Corporation Board of Directors has approved $234.5 million in financial assistance for water infrastructure improvements across New York State.
The Board's approval authorizes municipal access to over $226.8 million in low-cost short-term financing and previously announced grants to commence essential water and sewer infrastructure work, including flood mitigation measures safeguarding critical clean water systems from high-water events.
“By investing in our state's water infrastructure, we are laying the foundation for regional growth and prosperity while protecting our natural resources,” Governor Hochul said. "This financial assistance helps ensure that cost will not be a barrier as communities across the state continue to modernize treatment systems with vital infrastructure upgrades, helping usher in a healthier, more resilient future for New York."
The Board also acted to ensure the long-term affordability of three existing projects, authorizing long-term financing totaling over $7.7 million to municipalities, providing debt service savings for these initiatives.
Among the projects receiving funding approval today, $148 million was allocated for a clean water resiliency initiative that will aid the city of Long Beach in its long-term recovery from the devastation caused by Hurricane Sandy in 2012. This critical project will protect the city's wastewater treatment systems with flood mitigation measures, convert the city's water pollution control plant into a pump station, and connect it with Nassau County's South Shore Reclamation Facility.
In conjunction with the ongoing Bay Park Conveyance Project, the city's efforts will enhance the water quality of the Western Bays and Reynolds Channel. EFC is prefinancing the project to provide the city with the upfront capital required for construction. These funds will be reimbursed through federal disaster grant programs.
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