Cape and Islands Water Conservation Fund to be adjusted

Hyannis – The Cape Cod Islands Water Conservation Fund Trustee is taking steps to stabilize the account.

The C&I Water Conservation Fund was established in 2018 to benefit wastewater and water quality projects by imposing a 2.75 percent excise tax on traditional lodging and short-term rentals. It exceeded budget by more than $100 million earlier this year.

According to the Cape Cod Commission, the trustees voted at last Friday’s meeting to adopt a new model for grant funding that would cover 25 percent of the project cost. Spending would shift from a “principal forgiveness” model to one that provides a portion of the subsidy over the life of the loan.

Christy Senatori, executive director of the Cape Cod Commission, said the fund is challenged by the number of projects being implemented across the region, but believes the solutions approved by the board will help going forward. He said there was.

“This has been a great success model. This fund has been extremely helpful in rallying community support for these water quality projects, which has resulted in important work,” says Senatori.

The senator said since the fund was established, more than $200 million in grants have been awarded to wastewater projects across the Cape. His 2024 intended use plan for the Water Conservation Fund includes nearly $300 million, the largest amount in a single year since the fund’s creation.

Click here for a complete list of grants.