The New York State Environmental Facilities Corporation is a public benefit Corporation, empowered by State law to administer and finance the Clean Water State Revolving Fund (CWSRF) and the Drinking Water State Revolving Fund (DWSRF) pursuant to the federal Water Quality Act of 1987. The Corporation also finances, through the issuance of special obligation revenue bonds under our Industrial Finance Program (IFP), water management, solid waste disposal, sewage treatment, and pollution control projects undertaken by or on behalf of private entities.
Low cost short-term and long-term financing and grants are available for the funding and refinancing of eligible environmental projects through the State Revolving Funds (SRFs). The Clean Water SRF provides financing for the construction of publicly-owned wastewater treatment facilities, other eligible water pollution control projects, and certain facilities undertaken as part of an estuary conservation and management plan.
The Drinking Water SRF, administered jointly with the NYS Department of Health, provides a resource for financing various public drinking water systems (including systems owned by for-profit entities and not-for-profit entities) for expenditures on projects which will facilitate compliance with national and state drinking water regulations or otherwise advance the health-protection objectives of the Safe Drinking Water Act. The Clean and Drinking Water SRFs are funded by federal capitalization grants and State matching funds.
The Corporation also provides financial assistance under its Green Innovation Grant Program, Clean Vessel Assistance Program (CVAP), New York City Watershed Program, and our East Hudson Septic System Rehabilitation Reimbursement Program (formerly known as the Kensico Septic System Rehabilitation Program).