The Village of North Collins will be saving thousands of dollars on its water-line project with interest-free financing that has been approved by the state Environmental Facilities Corp.
The state agency has approved $5.43 million in no-interest financing for the ongoing construction of new water transmission lines and other improvements to the drinking water system in North Collins.
The loan comes from the Drinking Water State Revolving Fund and also will help refinance a bond anticipation note taken out by the village.
“This project addresses a vital local need for clean and safe drinking water and will provide long-term benefits to the community,” the state health commissioner, Dr. Nirav R. Shah, said in a statement.
Most of the village system is more than 80 years old and requires frequent repairs of water main breaks.
The ongoing construction project, which is expected to be completed next summer, includes the replacement of more than 14,000 feet of 10-inch water mains and nearly 12,000 feet of 8-inch mains.
A permanent backup power supply and a new pump station/pressure zone also are among the improvements planned.