Borrower: City of Cortland
Location: Cortland, New York
WIFIA Loan Amount: $16.2 million
Total WIFIA Project Costs: $37.8 million
Population Served by Project: 19,000
Number of Jobs Created: 120 jobs
Project Description
The Clinton Avenue Gateway project will replace aged water, sanitary sewer, and storm drainage with a new water main, services, hydrants and valves. The purpose of this project is to replace the existing infrastructure, which has exceeded its useful life. It will result in proper water and sewer main separation, reduced treatment costs for water and wastewater, and overall improved resident health.
Project Benefits
- Improves the operational efficiency of Cortland’s water and sewer systems by replacing systems that are over one hundred years old and experiencing high failure rates.
- Rehabilitates centrally located water and sewer distribution mains and deploys green infrastructure.
- Helps bring cost certainty to full project scope, ensuring that all phases are constructed as planned.
- Saves the City of Cortland ratepayers an estimated $3.5 million by financing the project with a WIFIA loan compared to a bond issuance.
- City of Cortland (Cortland, New York) (PDF)(1 pg, 261 K)