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Officials outline SRF, USDA and other options as wastewater timeline shifts
Summary
Staff told the committee wastewater project timing shifted and that SRF remains the primary low-cost borrowing source; USDA and other grant options could reduce the town’s net exposure for SRF-ineligible costs like grinder pumps.
Committee members were briefed on financing options tied to the wastewater implementation timeline. Staff said some SRF rounds shifted about one year, which reduced near-term amounts, and noted that current bid results came in better than anticipated, lowering some projected costs.
Staff said SRF remains the primary funding vehicle but that USDA financing might be a viable complement for certain non-SRF-eligible costs; USDA could offer longer terms and a potential grant portion. Staff indicated they are pursuing multiple funding paths (SRF, WIF, Cape & Islands trust, short-term-rental tax and Seaport grants) and will refine numbers after August bid results and SRF commitments.
