Adams, Great Barrington Receive Water Project Loan Forgiveness Funds

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ADAMS, Mass. — Adams received $1,188,354 in loan forgiveness and Great Barrington Received $486,968 in loan forgiveness.
 
Both towns are making upgrades to their wastewater treatment plants.
 
State Treasurer Deborah Goldberg, Chair of the Massachusetts Clean Water Trust (Trust) Board of Trustees, announced on Dec.14, 2022, that more than $107.3 million in grants were awarded for 43 projects in 35 communities across the Commonwealth.
 
The grant funds are awarded to cities, towns, counties, and water utilities to help pay for improvements to drinking water and wastewater infrastructure.
 
"These grants will support vital water infrastructure projects throughout the state," said State Treasurer Deborah B. Goldberg. "This investment furthers our commitment to ensuring the health and safety of all Massachusetts residents by providing access to clean drinking water in even more communities this coming year."
 
The grant amounts are to be provided as loan forgiveness and are awarded by project category to provide much needed financial assistance towards high priority projects.
 
In Adams, funds will be used in the repair, replacement, and refurbishment of various systems of the Adams Wastewater Treatment Facility (WWTF) as defined in the 2020 Capital Needs Assessment Report to address stringent NPDES permit limits, reduce nutrient discharges, and ensure the integrity of the plant. 
 
The Adams WWTF has been in operation since 1968, with limited capital improvements occurring in 2006. The Town of Adams has performed general maintenance and rebuilt equipment to maintain WWTF operation; however, many components have far exceeded their anticipated life expectancy. This project serves to repair and replace aging process equipment and infrastructure to allow the WWTF to continue serving the community and reliably protecting the environment in the future.
 
The total loan amount is $6,829,620.
 
In Great Barrington, funds will be used in part of a 20-year capital improvement plan to upgrade and modernize the Great Barrington wastewater collection system. The Town recently completed a long-term planning study that recommended improvements to its pump stations to extend their useful life, ensure long-term functionality, and permit compliance. 
 
The key components of the project include upgrades to pump stations at the following four locations: Cone Avenue, Risingdale, South Main Street, and Fairgrounds. 
 
The total loan amount is $4,508,962.
 
Additionally, communities that qualify as "Disadvantaged Communities", determined by an affordability metric that ranks each community in the Commonwealth, will receive additional loan forgiveness funds to ensure that subsidy is given to the communities that need it most. The Trust understands certain communities face exceptional environmental and financial challenges. By utilizing loan forgiveness, this can minimize the fiscal impact of these vital water infrastructure projects.
 
"All Massachusetts residents should have reliable access to safe drinking water and structurally sound water resources in their communities," said Administration and Finance Secretary Michael J. Heffernan. "We are pleased to put federal American Rescue Act funds to work toward financing infrastructure initiatives that will bring long-lasting benefits to water systems in these 35 municipalities."
 
The Trust, in collaboration with MassDEP, helps communities build or replace water infrastructure that enhances ground and surface water resources, ensures the safety of drinking water, protects public health and develops resilient communities. It accomplishes these objectives by providing low-interest loans and grants to cities, towns and water utilities through the Massachusetts State Revolving Funds (SRFs). The SRF programs are partnerships between the United States Environmental Protection Agency and the Commonwealth of Massachusetts. SRFs function like an environmental infrastructure bank by financing water infrastructure projects in cities and towns across the Commonwealth.
 

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Adams Community Bank Hires New SVP Loan Operations

ADAMS, Mass. — Adams Community Bank (ACB) announced the addition of Mike Barbieri as Senior Vice President Loan Operations. 
 
In this role, Barbieri will oversee the Bank's loan operations, ensuring the efficiency and effectiveness of loan processes, and driving strategic initiatives to enhance customer service and operational excellence.
 
Barbieri brings over 29 years of experience in the financial services industry, including holding leadership roles with Greylock Federal Credit Union and Pittsfield Cooperative Bank. His expertise in loan servicing and operational efficiency will help in advancing the bank's commitment to providing exceptional financial products and services.
 
"We are thrilled to welcome Mike Barbieri to the ACB team," said Julie Fallon Hughes President & CEO of the Bank. "With his extensive experience and knowledge, we are confident that he will make an immediate impact on our loan operations and help drive our ongoing efforts to deliver exceptional value to our customers."
 
As SVP of Loan Operations, he will work closely with the bank's leadership team to continue streamlining loan origination and servicing processes, enhancing technology systems, and ensuring full compliance with regulatory requirements.
 
Barbieri serves as current chair of the Board for Heartway Inc (fka Berkshire Housing Services/Development), and also serves as a board member of the Berkshire Life Foundation and the MCLA foundation. Barbieri holds a BA in Business Administration-Finance from MCLA.
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