Palmer Awarded a Clean Water State Revolving Fund Loan of $5,666,924
Contact: Kate Cohen
FOR IMMEDIATE RELEASE
Date: January 25, 2010
BREWER AND SMOLA ANNOUNCE STATE
REVOLVING FUND AWARD FOR PALMER
Boston, MA – Senator Stephen M. Brewer (D-Barre) and Representative Todd M. Smola (R-Palmer) announced today that the Department of Environmental Protection (DEP) awarded a Clean Water State Revolving Fund (SRF) loan of $5,666,924 to the Town of Palmer.
The Clean Water SRF loan will allow Palmer to implement the fourth phase of separating the sanitary sewer and storm drains. The work is required by an Administrative Consent Order from the Environmental Protection Agency (EPA) and the Department of Environmental Protection (DEP).
“With this award, Palmer will complete the final chapter of this project,” said Senator Brewer. “I applaud town officials for aggressively pursuing this funding, which will construct a new sanitary sewer collection system within each of the drainage areas.”
“This funding comes at a critical juncture for the Town of Palmer,” said Representative Smola. “Moving forward is a big step toward compliance with state and federal guidelines.”
The SRF is funded through the state and federal government and managed at the state level. It provides low-interest (2%) loans for cities and towns to finance expensive capital improvements to their water infrastructure. This includes wastewater projects like treatment facilities and combined sewer overflow improvements, as well as drinking water projects like drinking water pumps, mains, pipes, and facilities. This year, the American Recovery and Reinvestment Act (ARRA) is financing $185 million of the nearly $800 million SRF projects statewide. The ARRA funds will lower costs to cities and towns by providing principle forgiveness, which will reduce the amount financed by 11 percent for wastewater projects and 20 percent for drinking water projects.
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Posted: Tue, Jan 26, 2010
Updated Tue, Jan 26, 2010