State Provides $46 Million For Water Projects

ALBANY, NY (10/31/2007)(readMedia)-- Communities receive interest-free financing for pollution control, safe drinking water.

New York State Environmental Facilities Corporation (EFC) President David Sterman today announced $46 million in interest-free State financing for water projects in communities around the State. The funding is provided through the New York Clean Water and Drinking Water State Revolving Funds (SRFs). Communities receiving assistance include the: City of Cohoes, Albany County; Town of Ellisburg, Jefferson County; Village of Avon, Livingston County; City of Syracuse, Onondaga County; Rockland County; Town of Orangetown, Rockland County; City of Mechanicville, Saratoga County; City of Kingston, Ulster County; City of Glens Falls, Warren County; Town of Putnam, Washington County; and Town of North Castle, Westchester County.

“The interest-free financing announced today makes it possible for these communities to provide their residents with much needed water system improvements at a substantial cost savings,” said Mr. Sterman. “Communities rely on the State Revolving Fund Program to make it more affordable for them to undertake projects that provide safe drinking water and prevent water pollution.”

The SRFs offer a significant financial incentive for communities to finance needed water and sewer infrastructure improvements with grants (drinking water only), short-term interest free loans, and long-term interest-free and low interest rate loans. Administered by EFC and the State Department of Environmental Conservation (DEC), the Clean Water SRF has provided approximately $12.6 billion in financing for projects that prevent water pollution. The Drinking Water SRF is administered by EFC and the State Department of Health (DOH), and has provided communities with approximately $2 billion in low-cost financing and grants for drinking water improvement projects throughout New York State.

DEC Commissioner Pete Grannis said, "The financing announced today is another example of how we can partner with communities to help them with important projects that will protect the environment and enhance their quality of life.”

State Health Commissioner Richard F. Daines, M.D. said, “The New York Drinking Water State Revolving Fund will help these communities make the necessary improvements to their drinking water systems so that residents will have access to safe and healthy drinking water for years to come.”

Financing Recipients

DRINKING WATER SRF INTEREST-FREE LONG-TERM FINANCINGS

Town of Ellisburg, Jefferson County Financing Amount: $2,174,420 Finances the new distribution system project completed in June 2006 to serve Water District No. 2, which was using inadequate private wells for their water supply. The project also consolidated several regulated facilities using drinking water that exceeded maximum contaminant levels. Resulting savings with SRF financing over 30-year term: $1.35 million. The Town previously received a $2 million SRF grant for the project.

City of Mechanicville, Saratoga County Financing Amount: $5,673,707 Refinances $4.36 million in short-term SRF financing for a new water treatment plant project and finances additional project costs. The new plant was completed in February 2006, replacing the outdated plant constructed in 1892 that did not meet current design standards and had reached the end of its useful life. Resulting savings with SRF financing over 30-year term: $3.8 million.

DRINKING WATER SRF INTEREST-FREE SHORT-TERM FINANCINGS

City of Syracuse, Onondaga County Financing Amount: $4,172,811 Finances two covered storage tanks that replace two uncovered finished water storage reservoirs, one which has been out of service since 1999. This project will bring the City into compliance with the Surface Water Treatment Rule. Project construction is expected to begin in October 2008. Resulting estimated savings with SRF financing over average term of 1.5 years: $219,000.

CLEAN WATER SRF INTEREST-FREE SHORT-TERM FINANCINGS

City of Cohoes, Albany County Financing Amount: $383,450 Finances the rehabilitation of certain pump stations within the wastewater collection system, the majority of which were constructed during the 1970s. Project construction began in May 2007 and is expected to be completed in December 2009. Resulting estimated savings with SRF financing over average term of 1.5 years: $20,000.

Village of Avon, Livingston County Financing Amount: $750,000 Finances a new interceptor sewer and rehabilitation of the existing sewer, which is 90 years old and backs up during large storms. This should help eliminate sanitary overflows and backups. Project construction began October 1, 2007 and is expected to be completed in June 2008. Resulting estimated savings with SRF financing over average term of 1.5 years: $39,000.

Rockland County Financing Amount: $2,550,000 Finances Phase 1 of the rehabilitation and upgrades to the wastewater treatment plant and pump station equipment in Sewer District No.1. Project construction began in September 2007 and is expected to be completed in July 2009. Resulting estimated savings with SRF financing over average term of 1.5 years: $134,000.

Town of Orangetown, Rockland County Financing Amount: $21,997,660 Finances the replacement, rehabilitation and upgrading of 17 pump stations in the sewer district; the construction of new sewers, force mains and siphons; and the replacement of wastewater treatment plant equipment. Project construction began in May 2007 and is expected to be completed in November 2008. Resulting estimated savings with SRF financing over average term of 1.5 years: $1.15 million.

City of Kingston, Ulster County Financing Amount: $3,085,694 Finances the replacement of sanitary sewers constructed in the late 1800s to the 1930s and the separation of combined sewers along certain streets. A portion of the sewer collapsed requiring emergency repairs and replacement. Project construction is expected to be completed in September 2009. Resulting estimated savings with SRF financing over average term of 1.5 years: $162,000.

City of Glens Falls, Warren County Financing Amount $2,063,375 Finances a cover system to close the City landfill, which is an inactive hazardous waste disposal site. The system will eliminate surface exposures and minimize further migration of hazardous contaminants to the surface and groundwater. Project construction is expected to begin in April 2008 and be completed in July 2009. Resulting estimated savings with SRF financing over average term of 1.5 years: $108,000.

Town of Putnam, Washington County Financing Amount: $932,850 Finances a wastewater collection system to serve Black Point Road Sewer District No. 1, which relies on individual septic systems that do not meet State standards. The project will help improve the water quality of Lake George. Project construction is expected to begin in December 2007 and be completed in May 2009. Resulting estimated savings with SRF financing over average term of 1.5 years: $49,000.

Town of North Castle, Westchester County Financing Amount: $2,307,500 Finances upgrades to the existing wastewater treatment plant and installation of a nitrogen removal process, as required by the Long Island Sound Estuary Comprehensive Conservation Management Plan. Project construction is expected to begin in April 2008 and be completed in April 2009. Resulting estimated savings with SRF financing over average term of 1.5 years: $121,000.

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