SOURCE:
July 11, 2024
Environmental Facilities Corporation's Financial Assistance is Making Projects Affordable for New Yorkers, Safeguarding Drinking Water, and Improving Water Quality in Support of Nation-Leading Clean Water Goals
EFC Investments Highlighted in the Corporation’s Annual Program Metrics Report
New Project Impact Dashboard Enables the Public to Track Project Investments Statewide
Governor Hochul today announced the Environmental Facilities Corporation surpassed $2.2 billion in financial assistance for local water infrastructure projects during State Fiscal Year 2024. This record investment is making 269 crucial projects affordable for New Yorkers and empowering local communities to undertake critical drinking water and sewer projects that safeguard public health and improve local water quality. These numbers reinforce EFC’s critical role as New York State’s environmental infrastructure bank in advancing the Governor’s nation-leading clean water goals.
“New York is proud to be home of the nation's leading environmental infrastructure bank, which has been instrumental in providing the capital local governments need to get shovels in the ground for critical drinking water and sewer projects,” Governor Hochul said. “This $2.2 billion in financial assistance in one year highlights the State’s commitment to ensuring all New Yorkers have access to clean, safe water.”
EFC’s record investments are highlighted in the corporation’s State Fiscal Year (SFY) 2024 Program Metrics Report, published under the leadership of EFC President & CEO Maureen A. Coleman. This year’s report shows EFC continues to award record amounts of financial assistance to critical projects in a renaissance of water infrastructure investment.
New York State Environmental Facilities Corporation President and CEO Maureen A. Coleman said, "As we mark these financial and organizational milestones, we recognize the catalyzing impact that EFC’s funding has had on local communities across the state. Through these commitments, EFC is advancing New York State’s clean water goals, as well as sending a clear signal that New York State is a strong market for water infrastructure and economic development."
EFC executed 269 project finance agreements totaling more than $2.2 billion for local governments and eligible entities during the SFY April 1, 2023 to March 31, 2024. Members of the public can track these investments in EFC’s new Project Impact Dashboard. The interactive map shows communities that benefit from EFC's funding using data from the past five years. The searchable map can be filtered by funding type and shows projects that advance environmental justice.
Additional highlights of the Program Metrics Report include:
· Transformative Water Infrastructure Improvement (WIIA) and Intermunicipal Water Infrastructure Grants (IMG) totaling $450 million were awarded by EFC to 156 critical projects in December 2023. This includes the first $200 million awarded under the $4.2 billion Clean Water, Clean Air, and Green Jobs Environmental Bond Act. The WIIA/IMG programs were specifically named as tools in the voter-approved Bond Act to help leverage funding for water quality and resilient infrastructure improvements.
· Over $300 million in State WIIA/IMG grants were awarded in December 2023 to projects in environmental justice communities.
· Since 2015, EFC has awarded $2.5 billion in WIIA/IMG grants supporting 1,049 projects, totaling $8.3 billion in project costs, saving local ratepayers $5.9 billion in potential financing costs.
· EFC has awarded $408 million in grants since 2015 to drinking water projects that treat emerging contaminants above the State Maximum Contaminant Level.
· EFC continues to administer funding efficiently and equitably from the federal Bipartisan Infrastructure Law through the State Revolving Funds. EFC closed eight project finance agreements totaling $96 million in BIL funds in SFY 2024.
· Unparalleled technical assistance is helping communities access record investments. Since the program’s inception, Community Assistance Teams have served over 100 communities one-on-one, and held 20 regional events and webinars that drew participation from 500 local government representatives. Governor Hochul created the teams in February 2023 to help local governments with their water infrastructure needs.
· Over 450,000 linear feet of sewer pipe were added or replaced.
· Over 3 million gallons of drinking water storage was added, replaced, or rehabilitated.
· Green Innovation Grant-funded projects completed in SFY 2024 will reduce stormwater runoff by a combined 748,068 cubic feet annually.
United States Environmental Protection Agency Regional Administrator Lisa F. Garcia said, “EPA applauds New York State for its ongoing commitment to clean water. New York State’s record level investment in water infrastructure is a critical milestone. These investments, buoyed by the Biden-Harris Administration’s historic funding, will help ensure improved drinking water quality and upgrades to wastewater treatment systems that benefits all of our communities, and protects our precious ecosystems.”
Department of Environmental Conservation Interim Commissioner Sean Mahar said, “New York State’s cumulative investments of more than $2.2 billion in water infrastructure funding in fiscal year 2024 illustrate Governor Hochul’s sustained commitment to ensuring access to clean water and bolstering climate resiliency for communities statewide. These significant investments, along with EFC’s new project dashboard, further demonstrate New York’s success in advancing infrastructure improvements and bringing long-lasting benefits to New Yorkers.”
State Health Commissioner Dr. James McDonald said, “Under Governor Hochul’s leadership, we celebrate this historic investment into the health of New Yorkers by way of financial assistance for municipalities looking to make critical upgrades to their drinking water infrastructure. We look forward to continuing our work with the Environmental Facilities Corporation to make many more of these projects a reality and for safe and clean drinking water to be available for everyone throughout New York State for years to come.”
Secretary of State Walter T. Mosley said, “New York State’s nation-leading investment in clean water and sewer infrastructure is empowering communities with the financial resources necessary to undertake water quality projects. This critical initiative is crucial to safeguarding public health and climate-resiliency while promoting economic development.I applaud Governor Hochul’s continued commitment to clean community infrastructure through this historic investment of $2.2 billion, which will create a more environmentally sustainable New York State for decades to come.”
The Nature Conservancy's New York Director of Policy & Strategy Jessica Ottney Mahar said, “The Nature Conservancy commends Governor Hochul and the New York State Environmental Facilities Corporation for providing critical funding to clean water projects throughout the state and improving how the public can understand how these funds are benefiting local communities. Essential to public health, water infrastructure projects safeguard clean drinking water, enhance quality of life, and prevent pollution from reaching our bays, harbors, lakes, and rivers.”
Citizens Campaign for the Environment Executive Director Adrienne Esposito said, “Upgrading drinking water and wastewater infrastructure is widely supported by the public who understands these projects have a meaningful impact in protecting public health, our environment and quality of life. The 269 projects funded to date have directly improved the quality of life for thousands of New Yorkers, who now have cleaner, safer drinking water and are swimming in beaches no longer threatened by leaking sewer pipes. Updating our water infrastructure takes leadership and funding, and we are grateful to Governor Hochul for providing both.”
New York League of Conservation Voters President Julie Tighe said, “Today’s announcement not only highlights the often unsung but indispensable role the EFC plays in shoring up local water infrastructure, it demonstrates what is possible when the state and federal government work together to solve big problems. We applaud Governor Hochul and commend her administration for working to ensure federal Bipartisan Infrastructure Law dollars are being used to improve the lives and health of New Yorkers. These dollars are helping remove lead pipes, modernize drinking water and waste water infrastructure while putting people to work.”
New York State Association of Counties Executive Director Stephen J. Acquario said, “We do not and cannot take clean water for granted. PFAS, 1,4 dioxane and other emerging contaminants continue to plague our communities. Governor Hochul’s record $2.2 billion Environmental Facilities Corporation (EFC) investment in clean water infrastructure underscores New York State’s commitment to safeguarding public health and improving water quality. By providing crucial financial assistance, EFC empowers counties to take on critical clean water projects for our residents. Governor Hochul prioritizing these investments is a testament to the state and local partnerships ensuring all New Yorkers have access to safe, clean water.”
New York's Commitment to Water Quality
New York State continues to increase its nation-leading investments in water infrastructure, including $325 million in WIIA/IMG grant opportunities made available in January. Additional grant funding is available now through DEC’s Water Quality Improvement Project program and EFC’s new Green Resiliency Grant program. With $500 million allocated for clean water infrastructure in the 2024-2025 enacted State Budget announced by Governor Hochul, New York will have invested a total of $5.5 billion in water infrastructure between 2017 and this year. Governor Hochul’s State of the State initiatives are working to ensure communities can leverage these investments. The Governor increased WIIA grants for wastewater projects from 25 to 50 percent of net eligible project costs to help support smaller, disadvantaged communities. The Governor also expanded EFC’s Community Assistance Teams to help all communities access assistance, particularly small, rural, and disadvantaged communities so they may leverage this funding and address their clean water infrastructure needs. Any community that needs help with funding its water infrastructure is encouraged to contact EFC at https://efc.ny.gov/CAT.
