Residents across New York State are set to see improvements in their local water infrastructure as a result of a substantial funding boost totaling over $175 million, as announced by Governor Kathy Hochul. In a move acclaimed for its potential to stimulate job creation and bolster economies, this financial support is designed to make water projects more manageable for municipalities and, by extension, their constituents. The Green Light was given by the Environmental Facilities Corporation Board of Directors, who authorized municipal access to low-cost financing and grants to kick-start vital water and sewer projects, as per the Governor's Office.
"An investment in our state's water systems is an investment in New Yorkers’ quality of life – from safeguarding our drinking water to protecting the rivers and lakes we use for recreation," Governor Hochul said, reflecting on the initiative's scope, which ranges from Cheektowaga to Port Jervis. The financial strategy involves mixed federal and state funding from the Clean Water and Drinking Water State Revolving Funds, providing below-market rate interest and long repayment periods that are set to cut the debt service costs for communities, as obtained from the same press release.
Maureen A. Coleman, President and CEO of the Environmental Facilities Corporation, highlighted the substantial impact of the funding, stating it will help ease the financial burden on local ratepayers while promoting environmental protection. She noted that the approvals are a reflection of Governor Hochul’s commitment to affordability, public health, environmental sustainability, and economic resilience, according to a statement on the Governor's website. Acting Commissioner Amanda Lefton, State Department of Environmental Conservation, also highlighted New York's investment in clean water and transformational infrastructure under Governor Hochul's leadership.
Notable is the diverse range of projects receiving funding: whether it's the Village of Lyons Falls with a $1.6 million grant and interest-free financing package, or the City of Plattsburgh benefiting from $3.6 million in grants for drinking water system enhancements. The Town of Cheektowaga is slated to gain $14 million in long-term, interest-free financing for the sanitary sewer rehabilitation to tackle sewer overflows, which is bound to save ratepayers, an estimated $23 million in interest payments over time. However, the announcement by Governor Hochul has been met with bipartisan support, signaling a collective commitment to public health and the sustainability of New York's water resources.
New Yorkers eager to track the progress of these investments can turn to the user-friendly project impact dashboard, which illustrates the construction stage of each undertaking. With an additional $500 million earmarked for clean water infrastructure in the upcoming budget, New York continues to reinforce its dedication to water quality, boasting an investment total that has reached a staggering $6 billion since 2017.
