New York City’s Department of Environmental Protection spent $12.56 million to acquire 48 acres of land near the Kensico Reservoir, which is a key water source for the city and also supplies drinking water to portions of Connecticut.
This purchase signals a continued commitment to watershed protection, which is a critical, but often overlooked, infrastructure investment. Water quality impacts the long-term viability and cost of living, indirectly impacting real estate values and the attractiveness of the region for both businesses and residents. This is especially important in areas like Connecticut that rely on NYC’s watershed system.
The cost to maintain the watershed may increase over time. It is crucial to identify the future financing needs for the watershed and if these needs could impact Connecticut’s budget and affect debt capacity.
Could this indicate a renewed focus on regional infrastructure development and financing within the Lower Hudson Valley, potentially creating opportunities in environmental infrastructure investment within Connecticut?
Reference: westfaironline.com
