Asset Management Grant Program Available in MA
Calling All Water Utilities!
The Massachusetts Department of Environmental Protection (MassDEP) and the Massachusetts Clean Water Trust (the Trust) are currently promoting Asset Management Programs (AMPs) by offering subsidized State Revolving Fund (SRF) financing for communities looking to improve one or more of their water-related utilities.
With the help of Asset Management Programs, water, wastewater, and stormwater utilities are poised to make beneficial financial decisions for the future. The goal of AMPs is to achieve long-term sustainability and deliver the required level of service in a cost-efficient manner. Financial decisions surrounding asset repairs, replacements, or rehabilitations, as well as the development and implementation of a long-term funding strategy can only help a utility.
Through the Asset Management Grant Program, MassDEP and the Trust are encouraging water utilities to focus on AMP development, maintenance, or improvements. This program is also aimed at helping communities and their utilities meet the Engineering Plan and Financial Sustainability Plan requirements for SRF construction loans. With that, the program will award grants with a maximum award of $150,000 or 60% of the total eligible project cost (whatever is less).
If awarded a grant, the recipient will be required to supply documentation of a full appropriation of funding mechanisms for the entire cost of the project to qualify. There are no requirements on the size or scope of the project. MassDEP will favor proposals that include a clear description of the applicant’s current asset management status and goals, and those that demonstrate a strong commitment to participate in their AMP.
Apply Today!
Tata & Howard encourages all MA utilities to apply for this special grant funding. Proposals and Project Evaluation Forms are due on August 23, 2019 by 12 pm.
For more detailed information concerning requirements and deadlines, please view the Guidelines for Proposal Submittal and Project Selection provided by MassDEP.
Asset Management
As one of MassDEP’s pre-qualified consulting engineering firms, Tata & Howard provides industry expertise in both Asset Management and funding assistance. For more information on Asset Management or how Tata & Howard can assist with your grant application, visit our website or contact us directly. We are happy to assist.