Governor David A. Paterson today announced that municipalities across New York State will receive $67 million in grants from the New York Clean Water State Revolving Fund (CWSRF) for clean water infrastructure projects.
"This funding represents an important investment in New York's clean water infrastructure," Governor Paterson said. "For many New York communities, these projects would not be possible without the substantial financial assistance provided to them as principal forgiveness. I would like to thank President Obama and the New York Congressional Delegation, for the increased Federal funding allocation for clean water infrastructure projects."
The New York State Environmental Facilities Corporation administers the CWSRF, and provides loans to communities throughout the State for the construction, replacement, and improvement of water infrastructure. For the first time in 20 years, the Corporation will offer grants to communities as principal forgiveness to offset construction and lending expenses.
Department of Environmental Conservation Commissioner Pete Grannis said: "As we have made clear, water infrastructure needs have been mounting in communities around New York and local governments can't tackle the problem on their own. I commend Governor Paterson for his work on this project, as these grants will make a real difference for local residents -- not only protecting water quality but also saving local budgets."
New York State Environmental Facilities Corporation President and CEO Matthew J. Driscoll said: "For 40 years, the Corporation has provided low-cost financing to communities across our State to construct vital water infrastructure projects. Undoubtedly, principal forgiveness will provide significant financial relief to communities in need of urgent and costly sewer infrastructure repairs. I would like to thank Governor Paterson and New York's Congressional Delegation for including this important funding and grant provision in the 2010 Federal Budget."
In October 2009, the U.S. House of Representatives and Senate approved versions of the Interior and Environment Appropriations Bill that significantly increased Federal funding for the State Revolving Funds to $2.1 billion. In New York, the CWSRF received $225 million, nearly 3 times the 2008 appropriation. As a new provision of this funding, New York will provide grant monies totaling $112 million to communities financing water infrastructure projects through the CWSRF.
For more information about the New York Clean Water State Revolving Fund, please visit: www.nysefc.org.
For a list of New York Clean Water State Revolving Fund grant allocations, please visit: /archive/paterson/press/pdf/CleanWater.pdf