Town of Falmouth Receives Millions for Great Pond Phase 1 Sewer Project

For Immediate Release:
Contact:
Amy Lowell, Wastewater Superintendent
amy.lowell@falmouthma.gov

FALMOUTH, Mass., May 5, 2025 – The Town of Falmouth received welcome news regarding state funding for the Great Pond Phase 1 Sewer Project. As expected, the Massachusetts Clean Water State Revolving Fund (SRF) has notified the Town it is eligible for low interest loans (less than 2%, possibly 0%) for up to $50 million this year. The notice states the SRF will provide these same low interest loans for the balance of eligible project costs next year. For Falmouth, this means that low interest loans will be available for an additional $5 million in 2026. The total estimated cost for the Great Pond Phase 1 Sewer Project is $60 million of which approximately $55 million is eligible for SRF loan subsidy.

The SRF had proposed changing a longstanding practice which would have cast doubt on whether loan subsidies would be provided for the balance of project costs in excess of $50 million per year.

Inclusion on the SRF funding list automatically qualifies the Town for 25% loan forgiveness from the Cape and Islands Water Protection fund which voted to award Falmouth $12.5 million on April 30, 2025.

Falmouth is also eligible for loan forgiveness of 3.3% through the Commonwealth’s Disadvantaged Communities program. This represents a savings to the Town of approximately $1.8 million.

“These subsidies add up to a savings for Falmouth taxpayers of between $34 million and $50 million over the life of the 30-year bond depending on whether the Town receives a 0% interest loan or a 2% interest loan from the SRF, said Town Manager Mike Renshaw. “We don’t know if these subsidies will be available next year.”

Additional information about the Great Pond Phase 1 Sewer Project is available on the Town website at: https://www.falmouthma.gov/226/Wastewater.