01/15/2019 SEWER COMMISSION Minutes

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5 Board of Selectmen Minutes January 15, 2019 New funding streams to supplement or replace property tax summate of new Water Protection Trust Fund—Andrew Gottlieb: At the last Selectmen's Meeting,the Board voted to appoint Andrew Gottlieb as Mashpee's representative to the Water Protection Trust Management Board proposed as an oversight board comprised of representation from the 15 Cape towns. The short-term rental legislation passed by the Governor last month provides a mechanism for clean water funding. The 2.75% excise is anticipated to give tax relief to offset the challenges to fund water quality protection and restoration. In addition to the short-term rental tax, an available source of revenue to finance wastewater is realized through the state revolving loan program. The SRF provides 0%principal interest loans and 25%principal forgiveness. Cape towns have the advantage and ability to apply for 1/3rd of funding for nutrient management at 0% interest, and the state allows up to 25%of the principal of a loan to be forgiven, The Cape Cod&Islands Water Protection Fund would provide funding to offset a portion of the SRF loans. The process requires eligibility for an SRF loan which is funded on a 2.75% sur-tax on short-term rentals in Barnstable County. The SRF is a competitive point-based program that determines eligibility. With state management of the SRF,there is no discretion regarding the use of the$2.75%. sur-tax and there are no additional administrative costs to the Cape towns to administer this program. Communities under the Section 208 Plan would authorize a town to receive credit from measures associated to the nitrogen reduction goal. Initiatives would include shellfish aquaculture,dredging and fertilizer control bylaws. Lower cost options to achieve water quality control include inter-municipal agreements with towns having shared watersheds. When a town is prepared to move forward to town meeting for authorization to proceed with wastewater implementation projects the debt authorization for construction would start the project. Other funding initiatives include betterments,the local option hotel/motel tax, infrastructure surcharges and possibly revenue from marijuana resources. The Town Manager's Financial Team is expected to bring forth a financial plan by March 1, 2019 to consider a five-year financial plan. The projected cost of the Plan is $250 million over a 40-year implementation schedule. Board of Selectmen