Saratoga County water plant financing OK'd
SARATOGA COUNTY The Saratoga County Industrial Development Agency will finance $1.5 million in capital improvements at the county Water Authority’s treatment plant in Moreau.
The IDA board, meeting Monday in Ballston Spa, approved a $1 million loan and $525,000 grant for a project water authority officials believe will help resolve water quality problems.
The money would go toward design and construction of a discharge line for wastewater between the water treatment plant and the Hudson River. The authority draws its water from the Hudson and pipes it to a treatment plant about a mile away, but it recirculates wastewater rather than returning it to the river.
The IDA money would also cover installing aeration systems in two of the authority’s on-site storage tanks.
The authority has already obtained a Department of Environmental Conservation discharge permit for the pipe.
The IDA would charge only interest on the $1 million loan for the first five years, then expect the principal to be repaid at a rate of $200,000 per year over the following five years, said IDA Vice Chairman Richard Dunn. “It allows them to get the project off the ground,” he said.
Ed Hernandez, the authority’s acting executive director, has said the project will improve customer water quality, and that will benefit the county’s economic development efforts.
The water authority board will vote on the matter at a meeting July 25 in Ballston Spa.
The authority has had periodic problems with elevated levels of chlorination byproducts in the water since 2011, the year after the treatment plant went into service. A technical advisory committee said the discharge pipe and aeration system will help.
The money will come from the IDA’s surplus funds, which currently exceed $3 million and are supposed to be used for broad-based economic development projects.