The Pennsylvania Infrastructure Investment Authority (PENNVEST) board of directors has approved a new funding opportunity for repairs and short-term construction for lower-cost water, wastewater, non-point source, and stormwater improvements.
Small Project Initiative funding has a maximum loan amount of $500,000 for projects that serve less than 12,000 people or less than 1,000 system hook-ups. PENNVEST staff will perform reviews and decide on loans within two weeks, rather than requiring approval at a quarterly board of directors meeting.
“This new Small Project Initiative is the perfect tool for communities that have defined water quality needs, with planning and permitting in place and ready quickly to move to bidding and construction,” said Eric Menzer, chairman of the PENNVEST board of directors. “SPI funding is a flexible opportunity for short-term improvements and can be approved and distributed by PENNVEST staff in the most timely fashion. In addition, the funding serves as an ideal matching award for other existing federal, state, or local funding opportunities such as the Department of Community & Economic Development (DCED)’s PA Small Water and Sewer Program.”
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