Loan will help pay for New Hartford water project

By CHINKI SINHA

Observer-Dispatch

Posted Mar 18, 2008 @ 05:15 PM

NEW HARTFORD —

A $3.9 million interest-free loan from the state’s Environmental Facilities Corporation will help the town save about $2.7 million in interest on a 2006 installation of a public water supply system.

The payments to the EFC for the loan will be spread over the next 29 years, town officials said.

EFC Acting President Matthew Millea presented a ceremonial check to Supervisor Earle Reed Tuesday.

“They would not be able to get such a deal,” Millea said. “Local officials deserve a pat on their backs.”

The funds that have been administered through the New York Drinking Water State Revolving Funds will be used to pay for the project in the eastern part of the town that was previously served by poor-quality wells, town Supervisor Earle Reed said.

A 2003 assessment by the New York State Department of Health found communities across the state were not meeting the federal drinking water standards and were in need of upgrades, officials said.

“This is a quality of life issue,” Reed said. “We pursued the loan.”

The project, which included Higby Road, has been completed. The total project costs about $4.1 million. The town has made a couple of payments already, she said.