The New York State Environmental Facilities Corporation Establishes a $25 Million Hurricane Emergency Loan Program

    View Author October 2011

    Towns, villages, cities and counties in the 35 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 application deadline is December 31, 2011.

    Tropical Storm Lee Eligible Counties

    Broome County, Chemung County, Chenango County, Delaware County, Fulton County, Oneida County, Orange County, Otsego County, Schenectady County, Tioga County, and Ulster County.

    Hurricane Irene Eligible Counties

    Albany County, Bronx County, Clinton County, Columbia County, Delaware County, Dutchess County, Essex County, Greene County, Herkimer County, Kings County, Montgomery County, Nassau County, Orange County, Otsego County, Putnam County, Queens County, Rensselaer County, Richmond County, Rockland County, Saratoga County, Schenectady County, Schoharie County, Suffolk County, Sullivan County, Ulster County, Warren County, Washington County, and Westchester County.

    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.