Pennsylvania Gov. Tom Corbett announced the investment of $41.7 million in 13 non-point source, drinking water and wastewater projects across 12 counties through the Pennsylvania Infrastructure Investment Authority, or Pennvest.
Of the $41.7 million, $32.9 million is for low-interest loans and $8.8 million is offered as grants, Corbett said in an April 22 announcement.
The awards range from a $537,000 loan to eliminate wet weather overflows of untreated sewage into a stream in Allegheny County, to a $9.3 million loan and grant combination to renovate a deteriorated wastewater treatment plant in Bradford County that will allow a vacant manufacturing facility to accommodate the expansion of three businesses, leading to the creation of 221 jobs and the investment of $40 million in the area.
The funding comes from a combination of state funds approved by voters, federal grants to Pennvest 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.
Fitch Ratings and Standard & Poor's rate Pennsylvania's general obligation bonds AA. Moody's Investors Service rates them Aa2.
