March 16, 2010

Schumer, Gillibrand, Arcuri Announce Increased Funding For Village Of Newport Water Supply System Revitalization Project

Funding for the Village now Includes $775,000 Federal Grant and $1.4 Million in Low Interest Federal Loan

WASHINGTON, DC – Today, U.S. Senator Charles Schumer (D-NY), U.S. Senator Kirsten Gillibrand (D-NY) and U.S. Rep. Michael Arcuri (NY-24) announced that the Village of Newport has received an adjusted funding amount from US Department of Agriculture (USDA) – Rural Development.  The village will receive a federal grant worth $775,000 and a low interest loan for $1,400,000 in order to comply with an Environmental Protecting Agency (EPA) order to fix a covering system at their water facility.

“Water and sewer improvements are the number one concern that I hear from Mayors and Supervisors as I travel around the state,” said Schumer.  “These leaders want to improve their infrastructure but in many cases the cost is simply too great for a small municipal budget.   The federal government has stepped up to the plate to help localities break ground on many of these backlogged projects to maintain and upgrade the local water infrastructure and sewer system. Making these investments now will create jobs, ensure long-term economic competitiveness, and provide clean drinking water to residents in the Village of Newport, in New York State and across the country.”

“This investment by the USDA will help enhance the quality of life for residents of the Village of Newport by making the needed improvements to the water reservoir affordable for local families and businesses," said Senator Gillibrand, a member of the Senate Environment and Public Works Committee.  "During these difficult economic times, it is critical that we prioritize local infrastructure projects that will create jobs and help hold the line on property taxes.  I am pleased that the USDA revised their funding package, so this important project will now be able to move forward and at a reasonable cost.”  

“I am pleased that USDA Rural Development has given the Village of Newport the federal funding necessary to complete this water project in a cost effective way,” Arcuri said.  “Ensuring that our local municipalities are able to fix aging infrastructure and keep their water and sewer system in the best condition is critical.”

With the $775,000 in federal grant money the Village of Newport will get a $1.4 million loan from USDA Rural Development at a 2.75% interest rate.   Previously, USDA – Rural Development only offered the village a low interest loan, but reconsidered their application and provided them with the grant and loan combination which will allow the village to do make the improvements for a lower cost.