Massachusetts Department of Environmental Protection issued the following announcement on Sept. 13.
State Treasurer Deb Goldberg, Chair of the Massachusetts Clean Water Trust (Trust), announced more than $21.5 million in loan forgiveness for 31 projects in 20 communities across the Commonwealth. The loan forgiveness funds are administered on a competitive basis to cities, towns and water districts most in need of financial assistance to help pay for improvements to drinking water and wastewater infrastructure.
“Providing these funds to local communities will protect the health of our citizens, create a cleaner environment and provide savings for the ratepayers," said Treasurer and Receiver General Deborah B. Goldberg. "This $21.5 million is another example of the excellent work the Trust does to save money for our local communities."
The Trust improves the water quality in the Commonwealth through the provision of low-cost capital financing to cities, towns and other eligible entities. Because of the reduction of loan principal funded by this program, impacted communities will see their bi-annual loan repayments reduced, freeing up capital for other local needs. The loans were originated to pay for municipal water projects such as upgrades to water treatment facilities, stormwater and nutrient mitigation and sewer improvement projects.
"Our Administration is proud to partner once again with Treasurer Goldberg and the Clean Water Trust to support these important investments in local water and wastewater infrastructure projects, as part of a strong partnership with the Commonwealth’s cities and towns,” said Administration and Finance Secretary Michael J. Heffernan. "These investments have critical financial and environmental benefits that make them a sound investment of state capital dollars."
The communities that earned loan forgiveness are: Adams Fire District, Barnstable, Brockton, Dartmouth, Fall River, Gloucester, Goshen, Harwich, Haverhill, Hull, Lawrence, Lowell, Norton, Pepperell, Pittsfield, Revere, Southampton, Spencer, Springfield Water & Sewer Commission, and Taunton.
"Communities face significant challenges trying to maintain and operate their drinking water and wastewater infrastructure," said Commissioner Martin Suuberg of the Massachusetts Department of Environmental Protection (MassDEP), which is the Trust’s partner in administering the Massachusetts State Revolving Funds. "The Baker-Polito Administration is pleased to work with the Treasurer and the Clean Water Trust to support additional financial assistance for improving this infrastructure, reducing operating costs and protecting the health of local residents."
The $21.5 million in loan forgiveness funds is associated with a total original loan amount of more than $326 million. The Trust lends financial assistance to communities in the Commonwealth under the State Revolving Fund program which offers subsidized loans to cities, towns, and water utilities to help protect and improve their water infrastructure.
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