Pennsylvania Infrastructure Investment Authority (PennVEST)

Overview

Low-interest loans for design, engineering and construction of publicly and privately owned drinking water distribution and treatment facilities, storm water conveyance and wastewater treatment and collection systems.

Uses

Design, engineering and construction costs associated with publicly and privately owned drinking water distribution and treatment facilities, storm water conveyance and wastewater collection, conveyance, treatment facilities and Brownfield site remediation.

Funding

Funding packages up to $11 million per project for one municipality; Up to $20 million for more than one municipality; Up to $2 million for upfront (5 year loan) design and engineering; Up to 100% of the eligible project costs; Average project size is $1.5 million

Eligibility

Any owner or operator (public or private) of an existing or proposed drinking water or wastewater system; Any municipal owner of a storm water conveyance system

Terms

1% to 5% interest rate, depending upon the county/area to be served by the project and the resulting residential user rate; Length of repayment is usually 20 years; Disbursement made monthly based upon submitted invoicing and reimbursable expenses

Translate »