On August 5, New York officials announced that the state’s Environmental Facilities Corporation has approved more than $47 million in financings for critical infrastructure projects across the state to protect or improve water quality. The grants, interest-free loans and low-cost loans will help 11 municipalities undertake their drinking water and wastewater projects with innovative financing solutions.
“It is more important than ever that we continue to invest in our water infrastructure and help ensure clean water for New York residents,” Governor Andrew Cuomo said. “With this funding we are supporting environmentally-friendly projects that will improve water quality and protect public health across this great state.”
EFC financings can provide cost savings through lower interest rates and reduced issuance costs. Several of the financings approved today began with EFC Engineering Planning Grants to help communities jump start their work early on with funding for initial planning. EFC additionally offers technical project assistance that may not be available from other financial institutions.
