Sainato announces $11 million low-interest PENNVEST loan for New Castle Sanitation Authority
NEW CASTLE, Jan. 25 – State Rep. Chris Sainato, D-Lawrence, announced today that a low-interest loan in the amount of $11 million has been approved for the New Castle Sanitation Authority.
The loan was authorized by the Pennsylvania Infrastructure Investment Authority to expand the current sewage collection system.
"This project will feature the installation of over 220,000 feet of low-pressure sewer line that will protect the local Hell Run Watershed by replacing the private system that currently serves the Country Roads Mobile Home Park," Sainato said. "The sewer addition will also replace a number of private septic systems that have discharged into local waterways.
"The long-term, low-interest loan will allow this crucial work to improve the system without requiring any major rate hikes," he said.
"In addition to protecting our local waterways, the proposed expansion will bring about 75 construction jobs to the community."
The loan program offers a 20-year repayment, with an interest rate of 1 percent for years one through five and 1.743 percent for years six through 20.