Two Armstrong County projects were awarded low-interest loans by the Pennsylvania Infrastructure Investment Authority (PENNVEST) today, according to state Senator Joe Pittman and state Representative Jeff Pyle.
PENNVEST awarded a $435,000 loan to the Kittanning Municipal Authority and a $305,000 loan to the West Kittanning Municipal Authority, according to Senator Pittman, a member of the PENNVEST Board. The Kittanning Municipal Authority plans to upgrade its sewage treatment plant and the West Kittanning Municipal Authority plans to replace about 600 water meters.
“These upgrades and improvements will allow for these systems to function and operate more efficiently, resulting in a benefit to the customers of both authorities,” said Senator Pittman. “PENNVEST has been actively involved in numerous partnerships that resulted in wide ranging infrastructure improvements throughout Armstrong County. PENNVEST financing is an essential component that makes these projects viable by significantly reducing the burden that otherwise would fall on ratepayers.”
“These low interest loans will allow our municipalities to improve vital services for our citizens and I thank the PENNVEST board for its approvals,” said Representative Pyle.
PENNVEST is not supported by the state’s General Fund budget, which covers the daily operations and services of the Commonwealth. PENNVEST financing is provided through the use of federal funding and prior bond issues by the state as well as proceeds from the Marcellus Shale Impact Fee legislation, Act 13 of 2012.
Contact: Carlton Logue email@example.com