PENN YAN — A no-interest state loan will fund some of the infrastructure improvements needed to make the Penn Yan Marine redevelopment project a reality.
State Sen. Tom O’Mara, R-58 of Big Flats, and the state’s Environmental Facilities Corp. announced the $1.26 million loan last week. It will pay for new sewers, pump stations and other improvements in the area of Hicks, Waddell and Monell streets.
“It will definitely benefit the village a lot,” Mayor Leigh MacKerchar said. “It has taken some years for us to get this waterfront development thing rolling, and it’s moving — and this is definitely going to benefit that whole area of the village.”
The village needs to make the infrastructure improvements because the existing onsite systems are too old and too limited to accommodate a redevelopment initiative that includes a marina and condominiums.
MacKerchar said Penn Yan applied for the loan. It will use proceeds from the sale of the marine property to developer Chris Iversen to pay part of the loan back, he added.
The 14.7-acre site was once home to the Penn Yan Boat Co. Yates County acquired it for back taxes and has been trying to redevelop it for years.
Under a three-way deal with the village and Iversen, the county will give the property to Penn Yan, which will then sell it to Iversen’s Keuka Outlet Development LLC.
MacKerchar said the parties are awaiting the results of a home-rule request to the state Legislature before completing the land transactions. The request was made to clarify ownership of part of the site.
“We have most of the pieces on the table,” MacKerchar said. “It’s just getting them in the right spot.”
He hopes to see the transfer take place “any day now.”
The loan to Penn Yan was part of a $114 million allocation for 20 projects. Trumansburg will receive a $6.5 million no-interest loan to help correct discharge violations at its wastewater plant.
“We’re hopeful that ongoing state assistance will prove successful in helping localities undertake these critical projects,” O’Mara said. “We’re also hopeful that a new grant program currently underway can represent a long-term model for how the state-local partnership can be strengthened for the good of local environments, local economies and local property taxpayers by helping municipalities meet critical infrastructure needs while remaining with the property tax cap.”
That program — it’s a $50 million grant pool being awarded through the Environmental Facility Corp. and the Department of Health — is now accepting applications from municipalities, O’Mara said.
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