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Peekskill seeks $11.39M EFC financing for expanded sewer and riverfront project
Summary
City staff said the sewer project has expanded into a riverfront package and the city will apply to the EFC for $11,392,574; staff requested a bond resolution next meeting as a financing backstop for the application and a WEA grant application.
City staff told the council the sewer-improvements program that began in 2019 has grown into a larger riverfront project requiring approximately $11.3 million. The city is applying to the New York State Environmental Facilities Corporation (EFC) for financing of $11,392,574 and staff said it needs a bond resolution in place for the application as a financing backstop if grants are not secured.
Dave, speaking for the project team, said the scope expanded after the health department discouraged additional sewer mains on Water Street and the city must instead build a roughly one-mile force main and address sewer issues on Water Street and Railroad Avenue. He said the city will also apply for a WEA sewer grant and that the pump station will require acquisition of a small piece of land within city-owned property. "We're now building a 1 mile force main...the whole scope of the project is now at $11,300,000," he said.
Tracy said she will present a bond resolution next meeting to authorize financing steps needed for the EFC application; staff said they will finalize engineering costs and pursue grant-matching options as they pursue both EFC financing and grant funds.
