Infrastructure Bank takes applications
Butler County is accepting loan applications from municipalities and authorities for infrastructure work beginning in September.
Under the timeline for implementing the Butler County Infrastructure Bank program, applications can be submitted through December.
The review and approval process will run from January through April.
Along with utility authorities, other types such as transit and airport authorities are eligible to apply for the loans.
Mark Gordon, county chief of economic development and planning, said the program will start with roughly $500,000 using natural gas drilling impact fee revenue as the designated funding source.
Gordon said in an interview the infrastructure fills a valuable need.
“The infrastructure hasn’t kept pace with the population growth,” he said.
Gordon said the county would charge a 0.5-percent to 1.5-percent interest rate, because the main capital for projects would come from a source such as the Commonwealth Infrastructure Bank. The county money would provide collateral and cover the borrower’s payments on the loan.
The commissioners are expected at Thursday’s meeting to discuss hiring the Cranberry Township branch of the engineering firm of Herbert, Rowland & Grubic for $18,200 to help develop the process, including criteria for eligibility.
A full report appeared in the Butler Eagle.