BARNSTABLE – Barnstable County has announced that the Cape Cod AquiFund, a betterment loan program helping residents pay for septic system upgrades or connection to municipal sewer systems, reached a new milestone by dispersing $5 million in loans to homeowners over the past 12 months.
Septic system upgrades can cost thousands of dollars for homeowners, making the AquiFund loans which offer 0%, 2%, 4%, and 5% interest rates instrumental in bringing these improvements within reach for many residents.
County officials view the program as important in meeting the challenges facing the region’s water quality, as poor septic systems can leak harmful nutrients such as nitrogen or phosphorus into local water bodies, increasing the risk of toxic algae blooms.
“The AquiFund not only helps homeowners replace their failed septic systems, but it is also one of the cornerstone programs in the region’s efforts to repair the damage done by nitrogen pollution,” said Brian Baumgaertel, Director of the Massachusetts Alternative Septic System Technology Center and Senior Environmental Specialist with the County.
“The milestone is not only a milestone for the program but a milestone for Cape Cod as well,” he said.
Despite the promising trend, much work remains to be done.
Of the Cape’s 126,000 onsite property septic systems, only 2,382 currently use septic systems identified as new or alternative.
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