HARRISBURG – Rep. Parke Wentling (R-Mercer) today announced the Pennsylvania Infrastructure Investment Authority (PENNVEST) has approved the town of Greenville’s request for a low-interest loan of $797,674, which will fund a project to help upgrade its storm sewer system. For the first five years, this loan’s interest rate will be locked at 1%. From years 6-20, the rate increases to just under 1.75%.
Corroded metal pipe along North Third Street will be replaced with more than 700 feet of new high-density polyethylene pipe. Two small retention ponds will be constructed near 44 N. Third St. to control the velocity of stormwater discharging into the receiving waterway. This funding will also help pay for three new inlets, four manholes and associated restoration.
“This PENNVEST loan gets the town the funding it needs to complete the project, while keeping the interest rate much more manageable,” Wentling said.
PENNVEST funding comes from a combination of state funds approved by voters, federal grants from the U.S. Environmental Protection Agency and recycled loan repayments from previous PENNVEST funding awards. Funds for the projects are disbursed after bills for work are paid and receipts are submitted to PENNVEST.
Representative Parke Wentling
7th Legislative District
Pennsylvania House of Representatives
Media Contact: Jake Gillespie