BARNSTABLE – Barnstable County officials say there has been a drastic increase in financial need from Cape Cod homeowners who are working to comply with new Massachusetts Title 5 regulations.
County officials are linking the increase in loan needs with various towns mandating sewer connections as part of their comprehensive wastewater management plans.
After the state announced the new requirements two summers ago, the county rebranded an existing program as the AquiFund, a low-interest betterment loan program intended to help with those costs.
Two-million dollars in loans, described by the county in a newsletter as an “astounding” amount, was disbursed in the last fiscal quarter, and AquiFund staff estimates that demand will continue to increase as more local wastewater rules are implemented throughout Cape Cod.
The AquiFund is being credited with helping residents make decisions that will clean up the area’s nitrogen-polluted bodies of water.
Since the program’s inception in 2006, it has provided approximately $72 million in loans.
By Jim McCabe, CapeCod.com NewsCenter
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