Zero Percent Interest set For Mash Pee's $54 MIllIon sewer loan

The Trust, in collaboration with the Massachusetts Department of Environmental Protection, helps communities build or replace water infrastructure that enhances ground and surface water resources, ensures the safety of drinking water, protects public health and develops resilient communities. It accomplishes these objectives by providing low-interest loans and grants to cities, towns and water utilities through the Massachusetts State Revolving Funds (SRFs).

The SRF programs are partnerships between the U.S. Environmental Protection Agency and the Commonwealth of Massachusetts. SRFs function like an environmental infrastructure bank by financing water infrastructure projects in cities and towns across the Commonwealth.

The Trust approved the roughly $54 million loan last year for the first phase of Mashpee’s sewer project, which includes a water resource recovery facility and collection system.

Mashpee’s Interim Town Engineer Raymond

A. Jack told the Enterprise the term of the loan is 30 years. To illustrate the importance of the interest rate, he said the difference between a zaro percent and a 2 percent interest rate over that time span is roughly $17 million.

Mashpee also applied for a $12 million loan from the SRF in August 2022. Although the state’s Intended Use Plan, which details the projects being given loans under the Clean Water SRF program, has not been released yet, the draft version of the plan released on December 16 included approval for Mashpee’s request.

Mr. Jack said the term and interest rate for that loan are likely to be 30 years and zero percent.

Reprinted from capenews.net n

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