New York State Passes Environmental Bond Act to Advance Environmentally Friendly Projects

by | Nov 15, 2022

Election Day is a time for Americans to weigh in on important issues facing our country and local regions. This year, the majority of voters in New York State agreed that it’s time to enter a greener era. The Clean Water, Clean Air, and Green Jobs Environmental Bond Act, which will advance environmental improvement projects throughout the state, was passed on November 8th, 2022.

According to the New York Senate’s website, the Environmental Bond Act will make $4.2 billion in funding available for capital projects targeted at protecting natural resources and reducing impacts associated with climate change. Municipalities will be able to apply for monetary assistance under the Bond Act to undertake eligible environmental projects in the following categories:

  1. Restoration and Flood Risk Reduction
  2. Open Space Land Conservation and Recreation
  3. Climate Change Mitigation
  4. Water Quality Improvement and Resilient Infrastructure

The Bond Act funding will promote green infrastructure improvements throughout the state. Increasing green building practices will help to lower carbon emissions. Floodplain restoration projects will reduce the impacts of flooding and combat sea level changes. The reduction of nutrients in our water will lead to fewer algal blooms and healthier aquatic ecosystems. And the list goes on!

Many of the projects implemented under the Bond Act will be administered under New York State Department of Environmental Conservation (DEC) programs. At least 35% of the Bond Act funding will be directed to benefit disadvantaged communities, with a goal to raise that number to 40%. This will help ensure that people in these communities, which are disproportionately impacted by flooding, receive adequate protection and resources. The Bond Act will also create jobs as environmental projects move forward to improve the State’s economy.

The State is expected to roll out grant programs so municipalities and other eligible entities can apply for Environmental Bond Act funding. Walden’s grant writing team will be closely monitoring grant developments in the coming months and will publish future blogs with updates. If you are interested in learning more or applying for grants, feel free to visit our website at (our grants page is here) or call us at 516-701-1681 for more information.

Click here to read about some of Walden’s environmental research and development efforts, and contact us at 516-701-1681 to learn more.