Last week, we told you about changes to the state system for financing wastewater management projects. This week, APCC proposed a solution directly to Governor Healey. APCC requested that the governor’s proposed Environmental Bond include $500 million to further capitalize the Clean Water State Revolving Fund.
The Healey-Driscoll administration has made significant contributions to advancing clean water, not just on Cape Cod, but statewide. Supplementing the SRF with bond funds is the option most consistent with the objectives of the clean water agenda, which has been widely accepted and is moving forward with great momentum.
Given that the Massachusetts SRF program leverages capital funds on the bond market up to 3:1, this level of bond funding will increase annual funding capacity by up to $300 million annually. This infusion of capacity will go a long way toward allowing Cape towns to proceed as required by the watershed permits called for by the state.
The Cape projects are big because the problems we are solving are big. Now is not the time for state funding assistance to dry up. APCC looks forward to working with the Healey-Driscoll administration and the Legislature on this long-term solution to SRF capacity as the Environmental Bond moves forward. We will keep you all posted.
