Hopkinton to Receive $4.75 Million in Water and Sewer Funding, $1 Million to Boost Economic Development
Senator Karen Spilka and Representative Carolyn Dykema announced today that Hopkinton will receive $4.57 million in State Revolving Fund (SRF) grants and loans for work on its proposed sewage treatment plant on Fruit Street. The SRF Program, run by the Department of environmental protection, provides low interest loans to cities, towns, and other local governmental units for drinking water & wastewater-related infrastructure projects.
“In these tough times,it is essential that we keep our communities moving forward in their capacity to support economic development, and the money for the Fruit Street project will go a long way in ensuring that we as a state are doing that,” stated Senator Karen Spilka (D-Ashland), Senate Chair of the Joint Committee on Economic Development and Emerging Technologies. “This is wonderful news for Hopkinton and for the MetroWest.”
“We will see long-term dividends from this investment,” stated Representative Carolyn Dykema (D-Holliston). “These funds will create new jobs, jumpstart economic recovery and couldn’t have come at a better time. It’s good news for Hopkinton, the region and the state.”
“We are very pleased to receive this much needed grant,” stated Brian Herr, Hopkinton Board of Selectmen Chair. “The infrastructure improvements planned at Fruit Street and the Milford connection project will help stabilize our tax base for the future and create new jobs in a challenging economy. The timing is near perfect as the appeals process is winding down and we are ready to put shovels in the ground. Our thanks go out to everyone that has worked with us to secure this funding.”
Currently, this project would receive 9% of its funding as a grant and the rest as a 2% loan, but there is a bill before the Joint Committee on Economic Development and Emerging Technologies that would change these to 0% loans. “As chair, I am working hard to get the bill ready to report out of committee so that these funds can be released,” stated Spilka.
In addition, as part of the Massachusetts Recovery Plan to secure the state’s economic future, Hopkinton was one of four communities, along with Lawrence, Fitchburg and Lowell, to receive Community Development Action Grants (CDAG) totaling $3.56 million. The communities will receive funding for public infrastructure projects that promise to generate significant economic activity in each community. Taken together, the grants will create more than 490 new local jobs and 160 affordable housing units.
In Hopkinton, $1 million in CDAG funds will build approximately 2,800 LF of new sewer line and connections along Elm Street to eliminate existing capacity problems and allow for residential and business growth, including the Lonza Biologics Inc. expansion. The project will bring the following direct benefits to the community: $110 million in private investment, a 12-unit affordable rental housing project proposed for downtown and 278 new management, professional, technical, skilled, and entry level jobs over the next two years.
Created as part of the Patrick Administration’s 2008 Housing Bond Bill, the CDAG program provides funding for publicly-owned or managed projects that improve the overall economic condition of a city or town. CDAG grants are designed to support workforce and affordable housing needs across a range of incomes, create or retain long-term employment opportunities, and leverage significant private investment.