The Village of Lake Placid and the Town of St Armand are the latest beneficiaries of Governor Cuomos approval of over $66 million in grants, interest-free loans and low-interest financing to construct major infrastructure improvements to drinking water and wastewater systems across New York State.
The Governor says “A clean water supply is necessary to support healthy communities and business environments,” and he continues by saying “the state is making a significant investment in these key resources. Strengthening the state’s water and wastewater infrastructure will better protect the public’s health, while also increasing resiliency and performance in systems so localities can more effectively deliver water services and attract economic opportunities.”
The grants and low-cost financing options were approved Thursday by the Board of Directors of the New York State Environmental Facilities Corporation. EFC is the arm of state government that provides low-cost financing to help local governments fund new drinking water and wastewater infrastructure in a more cost effective manner.
DEC Commissioner Joe Martens says, “Clean water will pay dividends for our environment and helps communities attract business and maintain a high quality of life for their residents. These substantial grants will allow communities to undertake important water quality improvement projects that otherwise would be outside their financial means and that will pay long-term environmental and economic dividends.”
The Town of St Armand will receive $5,069,325…. $2,000,000 in grants and $3,000,000 in a lost cost loan..
Lake Placid will receive $4,221,794 in a loan as part of the funding project…
Funding is made available through the Clean Water State Revolving Fund, which is jointly administered by EFC and the New York State Department of Environmental Conservation (DEC). Additionally, drinking water projects are financed through the Drinking Water State Revolving Fund which is jointly administered by EFC and the Department of Health.