• Will there be economic recovery money for water and wastewater projects?

President Obama signed the American Recovery and Reinvestment Act of 2009 on February 17, 2009.  This legislation provides $787 Billion in economic stimulus funds for the American economy. One of the key features of the package is money for infrastructure projects, which Governor Paterson and our congressional delegation vigorously fought for to help address the nation's aging waste water and water infrastructure.  The bill includes $4 billion for waste water infrastructure and $2 billion for drinking water projects.

• How will the money be distributed?

For waste water and water infrastructure projects, the best way to get money quickly into these projects is to provide economic recovery funds via the Clean Water and Drinking Water State Revolving Funds. 

• How much money will be available?

New York State will receive $520 million in economic recovery funds for waste water and water infrastructure projects, of which $432 million will go to the Clean Water SRF and $86.8 million to the Drinking Water SRF.  In addition to a number of other requirements, ARRA requires that, to the extent that there are sufficient eligible project applications, not less than 20% of the allocation provide funding for green infrastructure.  (See Green Infrastructure FAQs)

• Will grants be available for CWSRF economic recovery projects?

50% of economic recovery funds for the Clean Water SRF and Drinking Water SRF will be available for additional subsidization including forgiveness of principal, negative interest loans, and grants to municipalities.

• Is there a list of economic recovery wastewater and water  projects?

Projects that are listed on the 2009 Clean Water and Drinking Water SRF Intended Use Plans are first being considered for economic recovery funds.

• Who is eligible to receive SRF economic recovery funds?

Ready-to-go projects listed on the Annual Readiness Lists of the 2009 SRF Intended Use Plans are eligible to receive economic recovery monies. 
  
• What qualifies as a ready-to-go project?

* Complete SEQR;
* Apply for all necessary permits or approvals;
* Submit your project for SHPO review (under 14.09);
* Complete your project budget, engineering report, and if possible project plans and specifications;
* Obtain approvals from OSC (as needed) for:
     District formation,
     Debt exclusion,
     Debt issuance if in the Adirondack Park
* Pass bond resolution;
* Submit Project Finance Application to EFC or DOH.

•What factors will EFC use to select projects for ARRA funding?

The primary criteria are that the project be on the 2009 IUP and that it meet all of the "ready-to-go" requirements described above.  In addition, EFC will take into account ways in which the risk of construction delays are presented or mitigated; geographical and regional diversification to promote a distribution of funds throughout the state; and the water quality benefits of the project. 

If at any time during the funding process EFC determines that an approved ARRA project will not, or cannot, comply with ARRA, and that ARRA funding is accordingly at risk of re-allocation by EPA, the funding will be awarded to alternate ready-to-go projects.

• If I have a project listed on the IUP, and I am not a hardship community, what is available to me from ARRA?

For projects not subject to EFC's Hardship Policy and which EFC determines to be qualified for available ARRA funds, recipients will have access to up to 62.5% of the total estimated project financial needs for up to 3 years on an interest-free basis.  Projects may receive a combination of 2009 program CWSRF funds and ARRA funds subject to eligibility requirements and availability.  The combination will be determined by EFC in consultation with the applicant.  Within 3 years of closing on short-term financing, the recipient will need to repay or convert its financing to an EFC long-term financing.  The additional subsidization through ARRA in the form of forgiveness of principal will be set forth in the PFA.  For projects not subject to EFC's Hardship Policy, EFC intends to forgive a minimum of 25% of the principal amount of debt for each selected project, or the portion that qualifies for ARRA funds. 

• If I am a hardship community and have a project listed on the IUP, what is available to me from ARRA?

Applicants who qualify for financial assistance according to EFC's Hardship Policy as well as ARRA funds are eligible to receive principal forgiveness in a range from a minimum of 50% to a maximum of 80% or to a cap of $4,000,000 per project unless the 25% minimum is not met.  The determination of the level of principal forgiveness provided will be based on the availability of funds with the goal of bringing the estimated first year sewer service charge down to the Target Service Charge.  Projects may receive a combination of 2009 program CWSRF funds and ARRA funds subject to eligibility requirements and availability.  We will determine the combination in consultation with the applicant.

• What if my project is not listed in the 2009 IUP? 

Communities with ready to go projects that are not listed on the 2009 Clean Water or Drinking Water SRF IUP who wish consideration for future funding opportunities can submit a Listing form with all required materials to EFC. 

• What if my project is listed on the Annual IUP list, but is not ready-to-go?  Will my community still receive SRF funding? 

All projects listed above the funding lines in the 2009 IUPs are eligible to be funded in the 2009 funding period.  At this time, EFC has not changed our program.  Key features being:
* 50% of project amount available in interest free short term financing,
* reduced interest rate long term financing, and
* provisions for eligible hardship communities (reduced or zero interest).

• How can we learn about the details of the economic recovery package?

We continuously receive new information.  Please frequently check EFC’s website at www.nysefc.org/recovery for updates on the economic recovery package and any changes EFC may be making to the CWSRF. If you would like to receive an email notification of information updates, visit the website to subscribe to EFC’s email update service.

• Who should I contact for more information about obtaining economic recovery funds for my project?

EFC staff members are available for any questions.  Please call us toll free at 1-800-882-9721, and contact us as soon as you have any questions or need guidance or an action from EFC.

NOTE: These questions are provided for your information and convenience and are intended to provide guidance with respect to common questions.  For further information, EFC directs your attention to the recovery page, and the respective SRF pages.  If you have additional questions, you may contact EFC at (800) 882-9721. Although reasonable efforts have been made to ensure that all electronic information made available is current, complete and accurate, EFC does not warrant or represent that this information is current, complete and accurate. All information is subject to change on a regular basis, without notice.  EFC reserves the right to revise and update the web site as guidance from federal agencies becomes available and other information is developed as to the requirements of ARRA and the SRFs.