East side Assembly Member Rebecca A. Seawright announced that her first bill -- to clean up the Hudson River and New York’s waterways -- had been signed into law.
The three-year extension of New York State’s subsidy for the cost of financing municipal projects pursuant to the federal Clean Water State Revolving Fund will provide critical financial assistance to clean water projects. The extension will allow municipalities that acquire, construct and upgrade eligible water pollution control projects through the federal Clean Water State Revolving Fund to continue to apply for interest rate subsidies.
The program, which is jointly administered by the New York State Environmental Facilities Corporation and the Department of Environmental Conservation, calls for a state to contribute 20% of the federal capitalization grants. To date, the federal program has provided more than $14 billion for low-cost financing of water quality protection projects.
This is the first of five bills which Seawright anticipates will be signed by the governor.