For Immediate Release - May 14, 2014

Commonwealth Delivers Grants for 25 Municipal Water Projects

$5.27 Million Will Reduce Principal on Water Infrastructure Loans Statewide

          The Massachusetts Water Pollution Abatement Trust (MWPAT) today announced the approval of more than $5.27 million in need-based principal forgiveness grants on 25 water infrastructure loans from across the state.

          “Ensuring that communities have the tools they need to provide clean water to their citizens is of paramount importance,” said Treasurer Steven Grossman, who serves as Chairman of the MWPAT.  “The cities and towns benefiting from this latest round of grants often encounter financial challenges when building and maintaining water infrastructure and this funding will help them redirect scarce resources to other local priorities such as roads and bridges, public safety and education.”

          The 25 grants, administered by the state and funded by the federal government, were awarded on a competitive basis to cities and towns most in need of financial assistance in order to afford these vital water projects.  Because of the reduction of loan principal funded by the grants, impacted communities will see their monthly loan payments reduced, resulting in more discretionary local capital.  The loans were originated to pay for municipal water projects such as upgrades to water treatment facilities and storm water and sewer improvement projects.

          “Protection of public health and the environment is a necessary role of local governments, but it can be a challenge for local budgets,” said Commissioner David W. Cash of the Massachusetts Department of Environmental Protection (MassDEP). “Finding the funding for these water and sewer projects in any municipal budget is usually a chore, but even more so, for communities of low income. It is heartening, therefore, to be able to provide this modest boost to the bottom line of these Environmental Justice communities.”

          “I am proud to be able to provide an additional incentive for communities to move forward with their water infrastructure projects, beyond our low interest 2% loans,” said Sue Perez, Executive Director of the MWPAT.  “This year’s award represents the fourth year providing principal forgiveness and we have granted $39 million to communities throughout the state.”

          The MWPAT lends financial assistance to the Commonwealth by providing subsidized loans to cities and towns for clean water and drinking water infrastructure development.  Since its establishment in 1989, the Trust has loaned $6 billion to improve and maintain the quality of water in the Commonwealth.  An estimated 97% of Massachusetts’ citizens have benefited from the MWPAT’s financial assistance.

 

A list of communities and loans impacted by the grants is attached.
Clean Water Projects (storm water processing, outflow and discharge mitigation, etc.)

City/Town                         Principal Forgiveness

Cambridge

$669,681

Chicopee

$74,267

Fall River

$312,691

Fitchburg

$326,477

Malden

$94,883

Norwood

$61,048

Palmer

$139,897

Quincy

$71,239

Revere

$159,651

Saugus

$38,091

Taunton

$157,736

Worcester

$29,481

Total:

$2,135,142

 

Drinking Water Projects

City/Town                         Principal Forgiveness

Barnstable

$105,290

Fall River

$174,406

Harwich

$81,768

Lawrence

$399,910

Lowell

$421,565

Lowell

$197,712

Malden

$121,464

Randolph

$127,713

Revere

$200,570

Springfield

$942,314

Taunton

$260,369

Turners Falls

$34,571

Webster

$72,148

Total:

$3,139,800

 

 

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