Funds Will Help Cities and Towns Pay for Improvements to Drinking Water and Wastewater Infrastructure
Deputy Communications Director
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BOSTON -- State Treasurer Deborah Goldberg, Chair of the Massachusetts Clean Water Trust (Trust), announced more than $20.8 million in loan forgiveness was awarded for 36 projects in 26 communities across the Commonwealth. The loan forgiveness funds are administered on a competitive basis to cities, towns and water utilities most in need of financial assistance to help pay for improvements to drinking water and wastewater infrastructure.
"As Chair of the Clean Water Trust, I am pleased to work with the Baker-Polito Administration and MassDEP to provide these funds to local communities, which 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 $20.8 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.
"MassDEP is pleased to partner with the Clean Water Trust and the Treasurer's Office to invest in maintaining critical water infrastructure across the Commonwealth, particularly in communities that are in economically distressed areas," said Massachusetts Department of Environmental Protection (MassDEP) Commissioner Martin Suuberg, who is a member of the Clean Water Trust's Board of Trustees. "This funding helps our communities protect public health and improve the environment for all of our citizens."
The communities or water utilities that earned loan forgiveness are: Auburn Water District, Barnstable, Billerica, Bourne, Bridgewater, Brockton, Chicopee, Eastham, Fall River, Gloucester, Holyoke, Kingston, Lawrence, Leominster, Lynn Water and Sewer Commission, New Bedford, Northampton, Peabody, Pepperell, Quincy, Revere, Saugus, Taunton, West Boylston Water District, West Springfield, and Winthrop.
"The Baker-Polito Administration is proud to continue working closely with local communities to improve drinking water and strengthen wastewater management systems," said Secretary of Administration and Finance Michael J. Heffernan, who is also a member of the Clean Water Trust's Board of Trustees. "We are pleased to award over $20.8 million in funding to cities and towns across Massachusetts and support infrastructure investments that help ensure individuals and their families have access to safe, clean water."
The $20.8 million in loan forgiveness funds is associated with a total original loan amount of more than $230 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.
Chaired by Treasurer and Receiver General Deborah B. Goldberg, the Massachusetts Clean Water Trust is a state agency that improves water quality throughout the Commonwealth by providing low-interest loans to municipalities and other eligible entities. Since its establishment in 1989, the Trust has partnered with the Massachusetts Department of Environmental Protection (MassDEP) to help develop and finance approximately $7.6 billion of water infrastructure projects serving an estimate 97% of the residents of the Commonwealth.