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Observations of water vapor megamaser emission from the nuclei of nearby active galaxies provide a unique and valuable tool for investigating the structure and dynamics of molecular gas on sub-parsec scales. Megamasers enable gold-standard measurements of the masses of black holes in the nuclei of these active galaxies, and in some galaxies enable a geometric determination of the distance to the megamaser system, thereby providing a measurement of the Hubble Constant. In this talk I will describe progress on these fronts made by the Megamaser Cosmology Project, as well as recent efforts to extend studies of water megamasers from the well-studied 22 GHz transition into sub-millimeter wavelengths using ALMA.