Conklin announces nearly $25 million in funding for new State College water treatment plant
A low-interest state loan from Pennvest will fund the project
STATE COLLEGE, July 17 – State Rep. Scott Conklin, D-Centre, announced today approximately $25 million in funding for a new, state-of-the-art water treatment plant for State College.
Conklin, D-Centre, said the $24.95 million low-interest loan will allow the State College Borough Water Authority to meet the future demands of its more than 14,000 customers.
“This low-interest loan is great news for State College,” Conklin said. “It will allow the borough to make a necessary improvement to infrastructure that’s vital to residents.”
With the loan provided by Pennvest, the State College Borough Water Authority plans to construct a new membrane filter water plant and make other improvements. The new water treatment plant will ensure that residents have a reliable system in the future and will serve as a backup plant for the existing Woodside Drive Water Filtration Plant, if it were to fall out of service.
The loan will cover all but $50,000 needed to fund the project; that additional funding will be provided through a grant. The interest rate for the first five years of the 20-year loan is 1.30%, and 1.95% after that.
The award was finalized today by the Pennsylvania Infrastructure Authority, commonly known as Pennvest. To learn more, www.pennvest.pa.gov.