The last hurdle in financing for a proposed water and sewer line on Kings Highway in Saugerties has been cleared with the approval of $393,760 in federal funds.
Construction, which will establish a shovel-ready site for new businesses in Ulster County, will begin in the spring, with completion scheduled for October.
The money is part of a total package of $2.5 million in federal funds toward the project obtained by U.S. Rep. Maurice Hinchey, D-Hurley.
Overall cost of the project is $5.43 million, according to project coordinator Vernon Benjamin.
In addition to the $2.5 million in federal funds, state Sen. John Bonacic, R,C-New Hope, was instrumental in obtaining $1.55 million from the New York State Environmental Facilities Corp.
Ulster County is contributing another $1 million.
The remainder of the project cost will be funded by issuance of a 30-year bond, Benjamin said.
He said the new federal allotment will save each household along the line approximately $220 to pay off the bond. That leaves an annual payment of $950 for the average single-family home. There are 20 residences along the roadway, as well as 25 businesses.
Benjamin said the new infrastructure will allow for industrial development that has so far not been possible because of the lack of water and sewer lines.
Fehr Brothers has wanted to develop 40 acres adjoining its facility there. The company constructed a circular drive for a proposed business park, which has yet to attract a tenant. And Gary Dial, principal of SDS Design, which is involved in the nanotech industry and also has a facility on Kings Highway, would like to develop adjacent lots.
Existing businesses will be able to expand more easily ”“ and no longer have to pay for maintaining their own septic systems, as has been necessary at Markertek, for example, a distributor of audio and broadcast systems that is located in the corridor.
Hinchey said in a statement that the Kings Highway corridor, which is located near the New York State Thruway and parallels freight rail lines, would be a likely site for the solar energy companies he hopes will come to the area through the efforts of The Solar Energy Consortium. “This new sewer and water line will enable us to better attract solar and other new businesses to Saugerties that we otherwise couldn”™t draw to the town,” he said.
