Final Fact Sheet Long Term Interest-Free Direct Financing To the Town

							                         New York State
                         ENVIRONMENTAL FACILITIES CORPORATION



                                               Final Fact Sheet:

                               Long Term Interest-Free Direct Financing
                              To the Town of Claverack, Columbia County

                                     DWSRF Project No. 17175
                      New Complete System, New Inter-Connection, Treatment,
                    Source Modifications to the Town of Greenport’s Well Supply,
                                     New System Consolidation


Type of Financing: Long Term Interest-Free Direct Financing totaling $2,659,616
Estimated Funding Amount: $4,720,000 - $2,659,616 financing and $2,000,000 grant

Final IUP Amount:              $4,719,000 (reads $652,000 due to short term closed amount being $4,067,000)
                            (Amount)        (Source & Type)
Other Funding Sources:       None               NA

Prior DWSRF Loans: Yes (X) No ( )                Hardship Determination: Yes ( ) No (X) Date: 6/23/03
                   ST for this project                            Grant: $2,000,000; Interest Rate: 0% 30 year


Project Description:

This project includes formation of a new Town water district to serve residences that are served by the City of
Hudson’s raw water transmission main. The new water system will also serve an existing mobile home park, and
several areas in the Town currently on insufficient private wells. Currently, the proposed water source for the new
district will be purchasing finished water from the Town of Greenport. This requires construction of a new
distribution system, pump station, softening & disinfection treatment, storage tank, and modifications to the Town of
Greenport’s well field. Most of these improvements are nearing completion, having been constructed during the
previous year via short term DWSRF financing.

Project Summary:

The City of Hudson currently supplies water to many homes and a mobile home park in the Town of Claverack from
its raw water transmission main. This main carries unfiltered surface water from the City’s reservoir in the Town of
Taghkanic, through Claverack, and into Hudson. Hudson has recently completed a new water treatment facility
within the City limits to comply with the requirements of the Surface Water Treatment Rule (SWTR). As part of the
SWTR compliance, the City will no longer be allowed to supply unfiltered water to the upland users including the
mobile home park which has been cited with a violation of the SWTR. The mobile home park will be consolidated
into the new town system and be eliminated as a public water supply.

Financing Summary:

Total project costs for DW# 17175 have increased to $4,720,000 as a result of an update of the
original project estimate by the engineer, which was attributed to inflation and an increase in material
costs, including a significant increase in steel prices since the original project estimate. A $4,067,000
DWSRF short-term financing, which closed 6/2/05 will be converted to a DWSRF interest-free long-
term direct financing of $2,659,616 for 30 years. Additional sources of funding include a DWSRF
grant for $2,000,000, a principal payment of $50,000 and a municipal contribution of $10,384

SEQR Findings:

The Corporation, on April 21, 2005, made a SEQR determination (Type I) concerning the Town of
Claverack’s SRF Project No. 17175. There has been no change in project scope. Therefore, the
Corporation has affirmed the previous SEQR determination.

Construction Schedule:

  Description             Construction Start     Construction Completion
  All work                        June 1, 2005           December 1, 2006