McGovern, Murray announce wastewater treatment plant funds

Westborough – U.S. Rep. James McGovern, D-Massachusetts, (left) and Massachusetts Lt. Gov. Timothy Murray visit WestboroughTown Hall Jan. 25 to announce that $7.04 million in American Recovery and Reinvestment Act (ARRA) grants and State Revolving Fund (SRF) financing will be used to upgrade the Westborough Wastewater Treatment Plant (WWTP). Upgrades to the WWTP would have cost the towns that use the facility – Westborough, Shrewsbury and Hopkinton - $64 million. Through federal stimulus funds, the WWTP is eligible for 11 percent principle forgiveness, or the $7.04 million, lowering the cost to be borrowed to complete the project to $56.96 million. The $56.96 million will be borrowed at the SRF interest rate of 2 percent. The approximate financial benefit to the towns, computed through an amount of use formula, will be $4.02 million to Shrewsbury, $2.68 million to Westborough and $360,000 to Hopkinton.
KEN POWERS