Towns, villages, cities and counties in the 32 upstate counties eligible for FEMA assistance which sustained storm damage to their drinking water and wastewater facilities from Hurricane Irene and Tropical Storm Lee in September 2011 may apply to the New York State Environmental Facilities Corporation (EFC) for up to $1,000,000 in interest free, 5-year financing to repair these facilities. The EFC’s program description and loan application are now available. The application deadline is December 31, 2011.
Tropical Storm Lee Eligible Counties
Broome, Chemung, Chenango, Delaware, Fulton, Oneida, Orange, Otsego, Schenectady, Tioga and Ulster.
Hurricane Irene Eligible Counties
Albany, Bronx, Clinton, Columbia, Delaware, Dutchess, Essex, Greene, Herkimer, Montgomery, Nassau, Orange, Otsego, Putnam, Rensselaer, Rockland, Saratoga, Schenectady, Schoharie, Suffolk, Sullivan, Ulster, Warren, Washington and Westchester.
We encourage you to contact us to serve as your bond counsel regarding EFC’s loan program. All we need is your completed application and evidence of loan approval by EFC. We will take it from there to provide a bond resolution, closing documents and arrangements to close the loan. Our cost: $3,500 total, $2,500 if you are a current Squire Sanders bond counsel client. We look forward to hearing from you and helping your community get the money you need to put your water and sewer facilities in good working order.