State lists Falmouth’s Great Pond sewer project for Clean Water Trust funding, boosting loan forgiveness prospects

Town staff told the Select Board April 28 that the Great Pond sewer service area project has been included in the Massachusetts Clean Water Trust intended use plan, an important step toward low‑interest State Revolving Fund (SRF) financing.

The town manager said inclusion in the intended use plan makes the project eligible for 0–2% SRF loans and noted that the Clean Water Trust has applied a loan‑forgiveness formula tied to community median income. Falmouth’s position (between 95% and 100% of the state median income) qualifies the town for a roughly 3.3% forgiveness subsidy, which staff estimated could amount to a little more than $1 million on the town’s application.

Staff also reported that a previously contemplated limitation—where only the first $50 million of large projects would be guaranteed and the remainder would have to compete in later cycles—was not enacted for this round; as a result, the town’s full project is covered in the current intended use plan and will not need to re‑compete for most remaining funding. The town meeting recently approved borrowing authority for the project.

Board members asked staff about timing and the advisability of publicizing the funding news prior to the upcoming election; staff said they would coordinate a press release so voters have the updated information. Separately, the manager reported that staff will continue required application steps to confirm whether the loan will be offered at 0% or 2% interest and that project scheduling will continue.