FOR IMMEDIATE RELEASE
State Rep. Joseph Petrarca
Pennvest awards $4 million low-interest loan to Vandergrift
HARRISBURG, Oct. 26 – State Rep. Joseph Petrarca, D-Westmoreland/Armstrong, said that Vandergrift Borough has been awarded a $4.17 million low-interest loan by the Pennsylvania Infrastructure Investment Authority.
The loan will be used for the first phase of a combined sewer separation project, which will serve nearly 5,000 residents. This part of the project will install approximately 11,200 feet of sanitary sewers and approximately 4,900 feet of storm sewers.
"This is the start of a multi-phase project, which is necessary to reduce the overflow and energy usage at the Kiski Valley sewage treatment plant," Petrarca said. "The results will also improve the overall public health and that of the aquatic life in the Kiskiminetas River, while bringing the community sewer system into compliance."
The loan will carry a rate of 2.25 percent for the first five years and increase to 3.39 percent for the remaining 15.
Pennvest was created by the General Assembly in 1988. It offers low-cost loans and grants to communities throughout Pennsylvania to fund sewer, stormwater and drinking water maintenance and improvement projects that improve the environment, create jobs, and protect the health of citizens.