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NYS EFC Approves More Than $3.87 Million in Low Cost Financing

  • Fri, 08/29/2014 - 6:00pm
  • networx

Village of Mexico and Town of Hastings to Receive Low-Cost Loans and Grants

The Board of Directors of the Environmental Facilities Corp. (EFC) today approved more than $3.87 million in low-cost financing to upgrade sewer infrastructure in the Village of Mexico and the Town of Hastings.

Mexico applied for and will receive more than $2.67 million in financing – half interest-free and the other half at market-rate interest – while Hastings will receive $1.2 million in a short-term, interest-free loan. Hastings has also been awarded a $981,000 grant from the Rural Development Office of the USDA.

EFC is the arm of Governor Andrew Cuomo’s administration that provides low-cost financing to help local governments afford major improvements to wastewater and drinking water infrastructure. This year marks the 25th anniversary of New York State’s Clean Water State Revolving Fund, which has furnished more than $17 billion in low-cost loans and grants to thousands of important water pollution control projects in New York State.

“As EFC marks the 25th anniversary of New York’s Clean Water revolving loan fund, New York State is expanding its efforts to help local governments create reliable infrastructure for the collection and treatment wastewater and stormwater,” said Matthew Driscoll, President and CEO of the New York State Environmental Facilities Corporation. “Millions of New Yorkers have benefited from our management of the nation’s largest and most-active Clean Water fund, as upgraded wastewater systems have improved the environment, protected public health and provided new opportunities for economic development.”

At today’s meeting, the EFC Board of Directors approved a total of $28.38 million in loans and grants from the Clean Water State Revolving Fund (CWSRF) for seven projects around the state. In addition to the financing for Mexico and Hastings, the EFC Board today approved a total of $28.3 million in CWSRF loans and grants for clean-water projects in the City of Cortland ($13.2 million) in Cortland County, the City of Glens Falls ($689,140) in Warren County, the Village of Philadelphia ($7.3 million) in Jefferson County and Dutchess County (two projects for a total of $3.3 million in financing from EFC).

The project in Mexico includes upgrades to four remote pump stations in the collection system, as well as the installation of screening and grit removal systems ahead of the main lift station. Work will also be performed to restrict water inflow and infiltration in the collection system, including the replacement of manhole frames and covers, to reduce flows during wet weather events.

The treatment plant will also receive new high efficiency blowers, dissolved oxygen monitoring, ultrasonic level senor for flow measurement, chemical storage enclosure for dechlorination, and upgrades to the electrical system. Reed beds will be constructed to reduce the cost of solids disposal.

In Hastings, approximately 6,400 feet of new sewer lines, along with individual grinder pumps and a new pump station, will be installed to serve areas of US Route 11. Flows will be treated at the Fort Brewerton Wastewater Treatment Plant.