New York’s Other Water Crisis

In 2014, Gov. Andrew Cuomo was looking at how to fund the construction of a new Tappan Zee Bridge and in such a way that he could promise minimal toll hikes. Construction had actually already begun on the $4 billion project despite no clear funding plan in place and pressure to detail the spending was mounting. On June 13, 2014 Cuomo announced that the state Environmental Facilities Corp. would loan the state up to $511 million for the multi-billion dollar project from the Clean Water State Revolving Fund. The fund, which is actually backed by federal dollars, exists to dole out low-interest loans for projects like local sewer repairs and wastewater treatment plant upgrades. The state also has a similar Drinking Water Revolving Fund that gives out loans for water main repairs and upgrades.

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