After months of planning, the county commissioners have created the Butler County Infrastructure Bank to help municipalities finance projects.
“I’m glad to see this come to fruition,” Commissioners Leslie Osche said during Wednesday’s commissioners meeting.
The commissioners unanimously voted on Wednesday to create the bank, adopt the program guidelines and bylaws, and establish the bank advisory board. There will be five members appointed to the board, though those appointments aren’t expected until next month.
The money will come from the county’s Act 13 funds, which are paid by companies who construct natural gas wells in the county. The goal of the bank is to assist municipalities in getting low-rate loans to aid in infrastructure, transportation and other economic development projects in the areas of sewer, water, road, bridge and storm water.
Butler County is modeling their infrastructure bank after Dauphin County, which started a bank their four years ago. During that time, Dauphin has been able to finance at least $18 million in projects.
