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The New York State Environmental Facilities Corporation 10 th Annual Symposium on Environmental & Energy Systems Oncenter Complex, Syracuse, NY September.

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Presentation on theme: "The New York State Environmental Facilities Corporation 10 th Annual Symposium on Environmental & Energy Systems Oncenter Complex, Syracuse, NY September."— Presentation transcript:

1 The New York State Environmental Facilities Corporation 10 th Annual Symposium on Environmental & Energy Systems Oncenter Complex, Syracuse, NY September 28, 2010 David Paterson, GovernorPete Grannis, Chairman Matthew J. Driscoll, President & CEO

2 NYS Environmental Facilities Corporation September 28, 2010 The Environmental Facilities Corporation A Public Benefit Corporation Accountability Transparency Clean Water State Revolving Fund (1987 Clean Water Act Amendments) Clean Water Program: 50% Interest Subsidy Drinking Water State Revolving Fund (1997 Safe Drinking Water Act) Drinking Water Program: 33.3% Interest Subsidy Providing Low-cost Financing and Technical Assistance to Municipalities, Businesses, and NY State Agencies for Environmental Projects

3 NYS Environmental Facilities Corporation September 28, 2010 NYS Water Infrastructure Needs CW - $36.2 Billion: 20 Years $11 Billion in Urgent Need DW - $38 Billion: 20 years Historic Declines in Federal Funding Delayed Projects Aging Sewers Combined Sewer Overflow Over 100 years old Declining Water Quality Agricultural and Other Nonpoint Sources of nutrients

4 NYS Environmental Facilities Corporation September 28, 2010 SOURCE: 305 (b) Water Quality Report

5 NYS Environmental Facilities Corporation September 28, 2010 National Water and Sewer System Numbers 850 billion gallons of untreated wastewater discharged annually 32 years average useful life of water treatment equipment $390 billion to replace and build new wastewater systems over next 20 years $10,000 per household cost of replacing water mains and treatment plants 3% of US electricity demand accounted for by water systems Electricity is the second largest operational cost for wastewater treatment plants

6 NYS Environmental Facilities Corporation September 28, 2010 Water and Sewer Systems Water and Sewer Infrastructure Spending Nation-wide (a) 2005: $90.1 billion ($305 per capita) 2050 projections (b): $133.5 billion: at current population trends $115.7 billion: at 50% reduction in immigration $90.1 billion: at zero population growth Sources: Congressional Budget Office, American Society of Civil Engineers, American Water Works Association, Pew Research Center. Notes: a: Capital, operations, and maintenance spending by federal, state and local governments in 2006 dollars. b: Assumes per capita spending remains at 2005 levels.

7 NYS Environmental Facilities Corporation September 28, 2010 An Underfunded Legacy In the last year, federal lawmakers have allocated more than $10 billion for water infrastructure programs, one of the largest such commitments in history. An EPA study estimated that $335 billion would be needed simply to maintain the nation’s drinking water systems in coming decades. Federal Wastewater Treatment Funding Federal Fiscal Year Appropriations ($billion)

8 NYS Environmental Facilities Corporation September 28, 2010 Clean Water SRF Leverage rate financing with 50% subsidy for up to 30 years Hardship financing as low as 0% interest for up to 30 years Short term financing for 3 years at 0% interest

9 NYS Environmental Facilities Corporation September 28, 2010 Drinking Water SRF Leverage rate financing with 33% subsidy for up to 30 years Hardship financing at 0% interest for 30 years, Only if needed to reach “Target Service Charge” Short Term Financing for 3 years at 0% interest SRF Backed, Guarantee Program Communities Benefit From the Corporation’s AAA Rating Fund components of projects that are “green” At least 20% of 2010 federal cap grant must go for green components

10 NYS Environmental Facilities Corporation September 28, 2010 How SRF Programs Work

11 NYS Environmental Facilities Corporation September 28, 2010 CWSRF Intended Use Plan (IUP) Effective October 1 st through September 30 th (Federal Fiscal Year) Project Priority Lists of potentially eligible projects Annual List (Projects expecting financing in current year) Multi-Year List (Projects to be financed in future years) The Intended Use Plan (IUP), published on an annual basis, identifies funds available to the CWSRF and uses of those funds. Excerpt from 20XX Final CWSRF IUP - Project Category: B Project #Applicant NameService Area Project Description Est. Amount Additional Above ST SPDES noScore C1-XXX-XX-00GREAT NECK, VILLAGE OFVILLAGESTP UP$17,200,000 NY C1-XXX-XX-00NASSAU COUNTYBAY PARK, SD #2NPS, STMSEW$430,000 NY C6-XXX-XX-00UTICA, CITY OFPHASE A1CSO, I/I CORR$2,850,000 NY C9-XXX-XX-00TONAWANDA, TOWN OFPARKERS-FRIES INTERCEPTORCOLL, INT$24,310,000 NY C6-XXX-XX-00ONEIDA COUNTYPHASE 1CSO, I/I CORR$5,300,000 NY C6-XXX-XX-01ONEIDA COUNTYPHASE 2ACSO, I/I CORR$20,500,000 NY “Subsidy Line”

12 NYS Environmental Facilities Corporation September 28, 2010 Short-Term CWSRF Financing Market-RateInterest-Free Project Score below the IUP subsidy Line, or for short-term project costs above the amount available Interest-Free Project Score above the IUP subsidy line AAA/Aaa Borrowing Rates0% Interest SRF “line of credit” is available for up to 3 years or readiness for long- term financing, whichever is sooner, for recommended minimum term of six months Works like a credit card…SRF line of credit for municipalities to charge project costs. EFC

13 NYS Environmental Facilities Corporation September 28, 2010 CWSRF Short-Term Application Submission  Signed Application Form  Application Checklist  Approvable Engineering Report  Adoption of a Bond Resolution  Completion of the State Environmental Review Process (SERP)  Approval of project by the NYS Office of Parks, Recreation and Historic Preservation (SHPO or OPRHP)  Approval of Sewer District Formation by the State Comptroller’s Office (if necessary) A Complete CWSRF STF Application:

14 NYS Environmental Facilities Corporation September 28, 2010 Long-Term CWSRF Financing Long-Term Market Rate (4.06% June 2010) Subsidized- Interest (2.03% June 2010) Below the Subsidy LineAbove the Subsidy Line AAA/Aaa Borrowing Rates AAA/Aaa Borrowing Rates Plus 50% interest rate subsidy for up to 30 years Final financing costs are determined when project approvals are in place. Major contracts awarded, permits in place. 30 years…works just like a home mortgage…

15 NYS Environmental Facilities Corporation September 28, 2010 Hardship Eligibility The CWSRF Hardship Program provides long-term financing at a reduced interest rate, as low as 0%, to communities that have been determined to be economically distressed by the implementation of an eligible water quality improvement project. Available for point source (Section 212) projects with a total project cost up to $14 million. Project must be listed on annual list of IUP above subsidy line. A hardship application form must be submitted to be considered for hardship eligibility including information on: Equivalent Dwelling Units (EDUs) served by the project Existing sewer debt service Existing and projected operation and maintenance cost Project cost funded by other sources (grant, loan, municipal sources, etc.) Hardship Confirmation Letter with Two Year Expiration. Hardship projects in IUP Category D

16 NYS Environmental Facilities Corporation September 28, CWSRF Highlights $225 million Federal Appropriation $736 million in CWSRF loans are available to communities. Principal Forgiveness (PF) / Grants $112 million available for clean water projects Green Innovations Grant Program Funding for stand-alone “green” projects $15 million available for Fall 2010 Application Process U.S. EPA recognized New York’s CWSRF with the 2009 “Pisces Award for Performance and Innovation in the SRF” for the GIGP

17 NYS Environmental Facilities Corporation September 28, IUP Principal Forgiveness For Disadvantaged Communities Category A - Population up to 3,500 $7.4 million Category B - Population between 3,500 to 1,000,000 $29.8 million Category C - New York City $30 million Category D - Hardship Communities $30 million

18 NYS Environmental Facilities Corporation September 28, 2010 Co-funding Opportunities USDA Rural Development loan/grant program New York State DEC Water Quality Improvement Program Office of Community Renewal CDBG Program NYSERDA Water/Wastewater programs

19 NYS Environmental Facilities Corporation September 28, 2010 EFC Client Services Application Development – Intended Use Plan Legal, Engineering, Financial Expertise Individual Project Consultations On-site Visits Field Offices Public Outreach and Education Co-Funding Post Closing Assistance

20 NYS Environmental Facilities Corporation September 28, 2010 Things to Come: Scoring System Initiative Asset Management Smart Growth Fair (Not Full) Cost Pricing “Green” Priorities/Energy Efficiency Federal/State/Local Partnership Feedback will be Essential to Success of CWSRF/DWSRF

21 NYS Environmental Facilities Corporation September 28, 2010 Green Innovation Grant Program Water Efficiency: Reuse, Conserve or Improve Water Efficiency Energy Efficiency: Reduce Energy Consumption or Produce Clean Energy Green Wet Weather Infrastructure: Maintain, Restore, or Mimic Natural Systems to Infiltrate, Evaporate or Recycle Stormwater Environmental Innovation: Manage Water Resources to Prevent or Remove Pollution in an Economically Sustainable Way $15 million Available for “Green” Infrastructure Projects

22 NYS Environmental Facilities Corporation September 28, 2010 Green Innovation Grant Program (GIGP) Begun under the American Recovery and Reinvestment Act of 2009 Post Program Analysis by Syracuse University Environmental Finance Center Analysis of program data and survey of applicants

23 NYS Environmental Facilities Corporation September 28, 2010 GIGP: Who Can Apply? Any corporation which is organized and existing under the laws of the State of New York which is empowered to develop a project * Only eligible for GIGP Grants under existing State laws. Municipality School district* Soil and water conservation district* Not-for-profit Partnership Association

24 NYS Environmental Facilities Corporation September 28, 2010 What Kind of Projects? I Secondary Treatment II Advanced Treatment III-A Infiltration/Inflow III-B Sewer System Rehabilitation IV-A New Collector Sewers IV-B New Interceptors V CSO Correction VI Storm Sewers (In Phase I and Phase II MS4 areas) X Recycled Water Distribution Point Source - Clean Water Act Section 212 Projects Ex. Wastewater Treatment Plants

25 NYS Environmental Facilities Corporation September 28, 2010 Non Point Source Projects - Clean Water Act Section 319 VII-A Agricultural Cropland VII-B Agricultural Animals VII-C Silviculture VII-D Urban, excluding decentralized systems, Green Infrastructure VII-E Ground Water, unknown source VII-F Marinas VII-G Resource Extraction VII-H Brownfields VII-I Storage Tanks VII-J Sanitary Landfills VII-K Hydromodification VII-L Individual/Decentralized Systems Ex. Porous PavementEx. Regional Digester/Bioenergy Facility

26 NYS Environmental Facilities Corporation September 28, 2010 Estuary Assistance – CWA Section 320 Projects Implementation of US-EPA Approved Estuary Conservation and Management Plans for: New York-New Jersey Harbor Peconic Bay Long Island Sound Estuaries

27 NYS Environmental Facilities Corporation September 28, 2010 Awarded $753,543 in GIGP for demonstration project Microturbine System 3 rd largest water tanks in the world Expected to generate 438,000 kWh of electricity annually Solar Photovoltaic System Expected to produce 56,000kWh of power annually The energy generated from the new systems will allow the facility to operate almost entirely “off-the-grid” Westcott Reservoir

28 NYS Environmental Facilities Corporation September 28, 2010 GIGP 2010 Objectives Protects, improves or enhances water quality, aquatic or riparian habitat Spur Innovation Build Green Capacity Facilitate Technology Transfer Fund Strategic and Highly Visible Demonstration Projects Foster Local Program Development Lead to Larger Scale Implementation Efforts Encourage Outreach and Education Incorporate Smart Growth / Livability Principles

29 NYS Environmental Facilities Corporation September 28, 2010 Philadelphia Water Department and WRT

30 Porous Pavement Lindenhurst Library - Suffolk County

31 Seagrit Planting Bed – NYC Green Streets NYC, NY

32 NYS Environmental Facilities Corporation September 28, 2010 GIGP 2010 Grants Two types of Grants: Construction Grants Grant for up to 90% of construction costs, not exceeding $750,000 Require complete Engineering Report (treatment plant projects) or concept plan and feasibility report for green infrastructure / stormwater projects at time of application. Design Grants Grant for up to 50% of design costs, not exceeding $50,000 per project Require complete Feasibility Study (treatment plants) or Concept Plan (green infrastructure / stormwater projects) at time of application.

33 NYS Environmental Facilities Corporation September 28, 2010 GIGP 2010 Eligibility Must be eligible under SRF and US EPA SRF 2010 Green Project Reserve requirements. Meet all applicable NYS design standards. Demonstrate the capacity to own, operate, and maintain the proposed project. Meet Davis Bacon Act requirements Prevailing wage rates paid Meet Federal DBE Program requirements Ensure nondiscriminatory actions in the award and administration of contracts Must be under committed/contract with EFC by September 2011

34 NYS Environmental Facilities Corporation September 28, 2010 Application Tips Focus on one innovative demonstration project Submit a complete and concise application Project selection based on GIGP 2010 goals and objectives Green Roof – Rockefeller Center

35 NYS Environmental Facilities Corporation September 28, 2010 Stay Informed Receive immediate notice of new and updated funding opportunities, programs, and initiatives SRF Newsletter Sign up to receive EFC’s quarterly newsletter Webcasts Join EFC live to discuss important issues

36 NYS Environmental Facilities Corporation September 28, Financing for a Sustainable Future NYS Environmental Facilities Corporation 625 Broadway Albany, NY EFC President and CEO Matthew J. Driscoll


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