Environment DEC
From the July 2003 issue
Clean Water Linked Deposit Programs Legislation Unveiled
Governor George E. Pataki has unveiled legislation to establish two new Clean Water Linked Deposit programs aimed at providing New York State businesses, farmers and homeowners with substantial savings on clean water projects, while helping to protect drinking water supplies. The proposed legislation would extend the same eligibility for low-interest loan financing that municipalities, non-profit organizations and some owners of public water supplies can receive now through the state's Environmental Facilities Corporation (EFC).
The legislation would establish the Water Pollution Control and Drinking Water Linked Deposit programs. Under these programs, EFC would make Water Pollution Control State Revolving Fund (CWSRF) or Drinking Water State Revolving Fund (DWSRF) monies available for linked loans for eligible projects.
Projects eligible for low-interest financing include the following:
- Best management practices undertaken by farmers
- Upgrading, removing or replacing deteriorated underground storage tanks
- Upgrading or replacing failed septic systems
Applicants would work through a qualified financial institution to apply for low-interest financing from EFC. Loans would be processed by established financial institutions.
The proposed program is similar to one created in Ohio in 1993, which was approved by the United States Environmental Protection Agency as an innovative and model approach to funding non-point source pollution control activities.
