Albany — New Yorkers are feeling green.
Empire State voters overwhelmingly approved a ballot proposal Tuesday that would allow the state to borrow $4.2 billion for environmental projects, infrastructure improvements and conservation efforts.
Nearly 60% of New Yorkers voted in favor of the Clean Water, Clean Air and Green Jobs Environmental Bond Act, according to an unofficial tally by the state board of elections.
The measure authorizes the sale of state debt and bonds totaling more than $4 billion to be used for projects such as land restoration and flood risk reduction in the face of growing concerns about climate change.
Jessica Otney Mahal, New York policy and strategy director at The Nature Conservancy, praised the endorsement.
“New York voters deserve a shout out for their overwhelming support for a once-in-a-generation bond deal that will protect and restore the natural resources we all depend on,” Maher said in a statement. “A truly remarkable coalition of stakeholders from all parts of the state and every political persuasion came together to support (the proposal).”
It was the first time in over 20 years that an environmentally focused borrowing proposal was put to the ballot in the Empire State.
In 1996 voters approved a $1.75 billion loan to “protect New York’s air, water and abundant natural resources.”
The current bond law, originally proposed for $3 billion in 2019, was shelved during the COVID pandemic amid economic uncertainty.
The measure was reinstated and expanded by Gov. Hochul and lawmakers last year, with broad support from environmental groups and labor unions.
Most of the borrowed power will be used to improve flood-prone water and wastewater systems, with priority given to underserved communities that are disproportionately affected by pollution.
The measure will also fund coastal restoration and shoreline restoration projects statewide, dedicating $1.1 billion to restoration and flood risk reduction.
Another element of this law is the preservation and conservation of open spaces and natural areas, protecting areas within the state from overdevelopment.
Approximately $1.5 billion of the borrowed funds will be used for green building projects, including investments in green infrastructure and renewable energy at SUNY, CUNY and community college campuses.
The funding, which has broad union support, could lead to more than 84,000 jobs and $8.7 billion in project spending, according to AECOM’s economic impact analysis.
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