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Finance committee backs sewer and roadway package after engineers say town is eligible for 0% SRF financing
Summary
The committee recommended moving forward on a roughly $44.8 million Somerset sewer, water main and roadway project that engineers say is eligible for 0% SRF financing; members highlighted risks of losing the SRF allocation if the appropriation is not approved at town meeting.
The Nantucket Finance Committee voted to recommend the Somerset sewer and associated roadway/drainage project, which presenters described as a combined sewer, pump station, water main and roadway package with an estimated total program cost of roughly $44.8 million (including an estimated $1.0–1.5 million bike path allowance). Engineers told the committee the town qualified for the SRF intended use plan this year and may be eligible to apply for 0% financing for the sewer portion; failure to appropriate the funding at town meeting could cause the SRF allocation to be awarded to another applicant.
Engineers from…
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