Butler County has been selected as a pilot funding agency through a statewide program in an effort to make it easier for municipalities to fund projects.
It’s called PennVest, and it offers local municipalities and authorities a reduced rate for lending. So the county will now become the first in the state to offer up to $20 million in lending to municipalities and boroughs.
It’s a similar setup to the county’s Infrastructure Bank, but this now allows funding in 20 year terms opposed to the Infrastructure Bank’s 10 year terms.
County Commissioner Leslie Osche said in a statement that as many municipalities search for water and sewer projects, this is another valuable tool for access to funding.
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