Peekskill seeks $11.39M EFC financing for expanded sewer and riverfront project
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.
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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.
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