A state report issued Aug. 10 indicates New York could be short at least $80 billion for infrastructure projects over the next twenty years, The Business Review (Albany) reported.
The report, from Comptroller Thomas DiNapoli, bases the determination on the assumption that funding levels remain the same.
Local governments are left with a higher portion of the bill for projects as federal and state funding shrinks.
While $2.3 billion in stimulus funding is headed to the state for infrastructure work, the report says the stimulus “only scratches the surface of New York’s looming infrastructure deficiences.”
“The future of New York state’s economy will continue to depend, in large part, on public investment in infrastructure,” the report says.
The state faces a projected bill of $250.1 billion over the next two decades for water, sewer and highway repairs.
The report identified the water and sewer systems in two towns in Rensselaer County, Easty Greenbush and Troy, as examples of outdated infrastructure in need of repair. In Troy, some water pipes date back to the 1800s.
The full report can be found at www.osc.state.ny.us.
Source: The Business Review (Albany)
