UPDATED: State considers loans for Hoosick Falls

Hoosick Falls may be allowed to borrow money to cover more than $1 million in unexpected expenses while the village continues to negotiate with two local polluters.

Legislation from Sen. Kathy Marchione and Assemblyman Steve McLaughlin would permit the village to issue serial bonds for “extraordinary expenses incurred by the village as a direct result of the discovery of the contamination of the village’s municipal water supply,” according to the bill memorandum. The unplanned expenses since 2014 include engineering, testing, legal services and public relations services.

At the behest of residents and outside advocates, the village has delayed agreeing to a settlement with the polluters, Saint-Gobain Performance Plastics and Honeywell International. The potential agreement would cover these unplanned costs, which are approximately more than $1.1 million at this point. The companies have already paid for water purification systems as part of an order of consent and administrative settlement.

UPDATE: Marchione’s bill was advanced from Senate Local Government Committee to Senate Finance Committee.

During the meeting, Marchione explained, “The reason for this bill is that currently with having to pay for some of their legal bills, Hoosick Falls can only borrow for a two-year period of time without having special legislation allowing them to borrow longer.”

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