Greenville to receive loan to upgrade city's sewer system
Greenville is getting an economic boost to help on some much needed improvements in the community.
The Pennsylvania Infrastructure Investment Authority (PENNVEST) has approved a low-interest loan of $797,674 to fund a project which will help upgrade is sewer system.
Corroded metal pipe along North Third Street will be replaced with more than 700 feet of new high-density polyethylene pipe.
Additionally, two small retention pounds will be built near 44 North Third St. to control the speed of stormwater discharging into the receiving waterway.
This funding will also help pay for three new inlets, for 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," said Rep. Parke Wentling in a news statement announcing the funding.
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.
For the first five years, the loans interest rate 1% and for years 6-20, the interest rate is about 1.75%.
