Haverhill could save money on interest payments relating to planned upgrades of its water treatment systems.
State Rep. Brian S. Dempsey, chairman of the House Ways and Means Committee, said the city is eligible to receive up to $35 million in state revolving fund loans for improvements to the Haverhill Waste Water Treatment plant. The Clean Water fund allows eligible communities to borrow at a 2 percent interest rate to pay for construction and planning projects designed to improve water quality, upgrade or replace aging drinking water and wastewater systems and cut treatment plant energy use and costs.
“The Clean Water Trust fund, SRF loan will provide Haverhill with the opportunity to address continued upgrades to city’s water and sewer infrastructure,” said Dempsey. “Updating our water treatment facility will help to create a more efficient infrastructure that will lower energy consumption and improve water quality in our city.”
Financing is administered by the Massachusetts Clean Water Trust (MCWT) and pays for projects implemented by cities and towns, regional water supply and wastewater treatment districts, and the Massachusetts Water Resources Authority (MWRA). Haverhill must decide to move forward with the project by June 30 to receive the low borrowing rate.
“This state loan is an opportunity for the City of Haverhill to move forward on important upgrades to wastewater treatment. It will be good for residents and for the Merrimack River,” said state Sen. Kathleen O’Connor.
To be eligible for Clean Water or Drinking Water loans, communities, wastewater districts and water suppliers filed applications with MassDEP last year demonstrating that proposed projects offer significant public health or water quality benefits, have local funding authorization and a commitment on the borrower’s part to file a timely loan application.