3 minute read
Spotlight on Cape Cod
More Than $9 Million in WaTer ProTecTion Fund
Though the coronavirus reduced the amount collected, more than $9 million is available in the Cape Cod and Islands Water Protection Fund.
The fund’s management board approved unanimously how to distribute the money at its October 7 meeting.
“One of the key points the board has wrestled with is the equitable distribution of funds and how to best distribute those funds,” Assistant Town Manager Peter Johnson-Staub told the Falmouth Select Board on Monday, October 19.
Funds will be distributed as a subsidy in the form of principal forgiveness over a four-year period. This will be a grant rather than a loan. All projects funded in any given year will receive an equal percentage subsidy, Mr. Johnson-Staub said.
Municipalities will not need to apply for a subsidy from the Cape Cod and Islands Water Protection Fund because projects will already have gone nually. The fund collected $9.1 million during its first through the state’s application and review process. year, $7.7 million of which was collected before the
“It is a terrific benefit for everyone because it COVID-19 pandemic. means municipalities do not have to go through a “It is not a big surprise, given COVID, but from whole extra process for these already very compli- the pre-COVID results, it looks like that $15 million cated projects and send another application to an- dollar forecast may well have been on track,” Mr. other entity for a subsidy,” Mr. Johnson-Staub said. Johnson-Staub said. “They got dual consideration for both the state revolv- Even with the reduced amount, he described the ing fund and Cape and Islands fund just with their fund as “a positive development on the wastewater one submission to the state.” front.” All 15 towns on Cape Cod are “wastewater
He said subsidies could be as high as 25 percent management agencies” and are legally mandated to of the project cost. develop and build wastewater management systems
Implemented on July 1, 2019, the Cape Cod and to clean up nitrogen pollution. This fund provides an Islands Water Protection Fund is funded by a 2.75 additional revenue source to do so. percent excise tax assessed on all lodging establish- “Hopefully, those revenues will rebound, but even ments on Cape Cod, including short-term rentals like if they don’t, the worst case is we offer a lower perAirbnb. Money collected can go toward water quality centage subsidy for some period of time,” Mr. Johnprotection projects on Cape Cod. son-Staub said. “That is certain to rebound as we
The fund was projected to collect $15 million an- continued on page 66
Spotlight on Cape Cod continued from page 65 work through the COVID pandemic.”
Chairwoman Megan E. English Braga said there was a lot of buzz when the fund went into effect before the COVID-19 pandemic became the focal point for communities.
“Seeing that half-year, that five-month projection, it does seem it was on target for that $15 million, but even that $9 million is $9 million that we wouldn’t have had to go toward some of these projects in the future,” Ms. English Braga said.
Written by Brad Cole. Reprinted from the Falmouth Enterprise. n
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