August 15, 2011--New approach provides more cash to protect water (Wall Street Journal)

An innovative investment strategy is providing nearly $230 million more for low-interest loans and grants for local drinking water and wastewater projects. The state Environmental Facilities Corp. saved money over the last four years by more aggressively investing revenue from fees and by tweaking management practices. The strategy could soon be duplicated elsewhere. The head of the Environmental Facilities Corp., Matthew Driscoll, says the additional funding available to local communities will mean more jobs to improve local water treatment facilities. The funding is used in the state's clean water revolving loan fund. An advisory board to the federal Environmental Protection Agency recently praised New York and Connecticut for their investment strategies for clean water programs.

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