EFC Approves $497.5 Million in Grants and Loans to Upgrade Local Wastewater and Drinking Water Systems

During, the second quarter of EFC’s fiscal year, commencing in July and ending on September 30, the Board of Directors of the New York State Environmental Facilities Corporation (EFC) has approved $497.5 million in grants and interest-free and low-cost loans to support vital wastewater and drinking water infrastructure projects throughout New York State.

"Strengthening our water systems is critical for improving the quality of life for communities across the state,” said Sabrina Ty, President & CEO of the Environmental Facilities Corporation. “EFC remains committed to working in partnership with these municipalities and others throughout the state to safeguard our water resources and achieve a higher quality of life for our citizens.”

The EFC Board of Directors has approved $497.5 million in financial assistance for drinking water and wastewater projects in Upstate New York and Long Island. This funding includes nearly $13.6 million in grants that were part of the first two rounds issued pursuant to the New York State Water Infrastructure Improvement Act (WIIA) of 2015.

Funds under WIIA were increased in the 2016-17 New York State budget, allowing EFC to broaden eligibility for wastewater projects and increase the maximum grant amount for drinking water projects from $2 million to $3 million, or 60 percent of eligible projects costs – whichever is less. The 2nd Round of awards were announced by Governor Cuomo in a series of seven regional Press Releases.

Each year, EFC invests nearly $800 million to fund water quality improvements through New York’s Clean Water State Revolving Fund (CWSRF) and Drinking Water State Revolving Fund (DWSRF), the largest and most active revolving loan funds in the nation. 

Source: Environmental Facilities Corporation