By Adam Swift
The Massachusetts Clean Water Trust’s Board of Trustees approved over $108 million in new low-interest loans and grants at its July 12 meeting. Included in that amount is a $9,854,079 2-percent interest loan for Phase 13 of Revere’s ongoing sewer and drainage upgrade project. The Trust, in collaboration with the Massachusetts Department of Environmental Protection, helps communities build or replace water infrastructure that enhances ground and surface water resources, ensures the safety of drinking water, protects public health and develops resilient communities. It accomplishes these objectives by providing low-interest loans and grants to cities, towns and water utilities through the Massachusetts State Revolving Funds (SRFs). The SRF programs are partnerships between the United States Environmental Protection Agency and the Commonwealth of Massachusetts. SRFs function like an environmental infrastructure bank by financing water infrastructure projects in cities and towns across the Commonwealth. For over a decade, Revere has been undertaking a series of city-wide water and sewer upgrades that were mandated by a consent decree by the state and federal governments. While Revere received the news about the low-interest loan funding last week for Phase 13 of its sewer and drainage system project, the city is already moving forward with Phase 14 of the long-standing improvements. In June, the City Council approved a $10 million loan order for Phase 14 of the project. “This funding is very important to continue on with improving our sewer and drainage infrastructure in the city,†said Richard Viscay, the city’s finance director at the June hearing on the loan order. “These loans are through the state’s sewer rate relief that give us preferable interest rates at 2 percent. We also receive forgiveness on principal through the American Rescue Plan Act funds and it is the most efficient way to have these repairs done.†Chris Ciaramella of the Revere Water Department said much of the $10 million for Phase 14 of the project is going to be used for linings, laterals, and pulling the drainage out of the sewers. “It’s going to help us out huge,†said Ciaramella. In addition to the Revere loan from the Clean Water Trust, the Boston Water and Sewer Commission received a 1.5 percent loan for $2,172,625 for sewer and drain model updates and recalibration.
