SCHUMER ANNOUNCES OVER $2 MILLION IN GRANT FUNDING FOR CLEAN WATER INFRASTRUCTURE COMING TO VILLAGE OF BELMONT
Belmont Receives Federal Funding to Complete Long-Awaited Sewer Repairs, Saving Local Taxpayers Millions in Interest and Project Costs Schumer Secured Unprecedented Amount of Federal Funding to States for Water Infrastructure Improvements through Recovery Act and Federal Appropriations
Today, U.S. Senator Charles E. Schumer announced that the Village of Belmont will receive $2 million in federal grant funding from the New York Clean Water State Revolving Fund (CWSRF) for clean water infrastructure projects. The grant funding is coming to cities, towns and villages all across New York because of a provision secured by Schumer in the Congressional Interior and Environment Appropriations Bill.
"These funds will go to work right away improving infrastructure, creating jobs and boosting the economy in Belmont," Schumer said. "At a time when municipalities are across New York are struggling to balance their budgets these vital funds will reduce the burden on taxpayers by helping to avoid tax and rate increases."
The New York State Environmental Facilities Corporation administers the CWSRF, providing loans to communities throughout the State for the construction, replacement, and improvement of water infrastructure. For the first time in 20 years, the Corporation will offer grants to communities as principal forgiveness to offset construction and lending expenses, a provision which Schumer fought for.
Schumer fought successfully to dramatically increase federal funding allocations for State Revolving Funds in the American Recovery and Reinvestment Act (Recovery Bill) and Fiscal Year 2010 Interior and Environment Appropriations Act to ensure ample funding was available for these and other clean water infrastructure projects across the state. The Interior Appropriations Bill included $2.1 billion, of which New York State received $227 million, and the Recovery Bill included $4 billion, of which the state received $432.5 million. Additionally, much of this funding will be made available through the CWSRF as grants, instead of loans, directing more than $532 million in grants to communities throughout New York State as principal forgiveness to offset construction and lending expenses. New York's CWSRF is administered by NYSEFC.
The new federal funding structure will provide grant monies totaling $112 million to communities financing water infrastructure projects through the CWSRF in New York. For more information about the New York Clean Water State Revolving Fund, please visit www.nysefc.org .
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