|
|
FOR IMMEDIATE RELEASE |
|
State
Rep. Scott Conklin |
  
|
Conklin: Pennvest awards $10 million low-interest loan to borough of Philipsburg
HARRISBURG, July 15 – Centre County state Rep. Scott Conklin announced that the Pennsylvania Infrastructure Investment Authority, known as Pennvest, will provide more than $10 million in a low-interest loan to the borough of Philipsburg.
Conklin said the funds will be used to install approximately 39,000 linear feet of gravity sanitary sewer main, sanitary sewer laterals, manholes and other related items.
"The existing sewer collection system in Philipsburg suffers from overuse and excessive inflow of materials, especially in wet weather," Conklin said. "This loan will help the borough eliminate the periodic discharge of raw sewage that comes from the Moshannon interceptor and lands in the Cold Stream and Moshannon creeks."
Conklin said the project will help improve public health and safety by significantly reducing the health risks associated with the public's use of the contaminated surface water and exposure to raw sewage. Also, it will help the borough become compliant with Department of Environmental Protection regulations and enable the Moshannon Valley Economic Development Partnership to better market its business park and the Main Street area of Philipsburg.
Pennvest is an independent agency of the Commonwealth that was established in 1988. It provides financial assistance to the owners and operators of substandard and deteriorated sewer and water systems throughout the state.
It carries the borrowing authority of more than $1 billion in state and federal funds, along with proceeds from general obligation bonds and interest payments on its loans.
###sb/2008/agh
l:'print'releases'pennvest.077