GENESEO – New York State is providing the Village of Geneseo with a $2 million loan to fund the planning, design and construction of improvements to its wastewater treatment plant.
According to a press release from Senator Patrick Gallivan, the $2-million zero-interest loan is part of the $60.7 million in grants approved by the New York State Environmental Facilities Corporation Board of Directors to support drinking water and wastewater infrastructure projects across the state. The Board’s approval includes nearly $8.4 million in grants awarded under the Water Infrastructure Improvement Act.
“It’s important for the state to provide financial assistance to help local communities improve and upgrade water and wastewater treatment facilities in order to protect public health and the environment,” said Gallivan. “The zero-interest loan will also save taxpayers a significant amount of money compared to a traditional loan.”
To date, $225 million in WIIA grants have leveraged over $1 billion in total project costs for over 120 projects across New York State. Additionally, this year under the $2.5 billion Clean Water Infrastructure Act of 2017, $255 million in additional funding was made available for drinking water and wastewater infrastructure upgrades.
According to Governor Andrew Cuomo’s Office, New York State leads the nation with the largest annual investment in water-quality infrastructure of any state. Since 2011, EFC has provided more than $11.5 billion in subsidized loans, grants and loan re-financings to local governments.