Robbins, Longietti Announce PENNVEST Financing

Borough of Sharpsville to receive $4.5 million for water line replacement

The Borough of Sharpsville will receive $4.5 million in state financing to help cover the costs of a major waterline replacement project, according to State Senator Bob Robbins (R-50) and State Representative Mark Longietti (D-7).

The Pennsylvania Infrastructure Investment Authority (PENNVEST) today approved a $484,156 grant and a $4,054,599 low-interest loan for the project, which involves the replacement of 36,500 feet of waterlines.

"Sharpsville’s water system is extremely outdated, in poor condition and causing environmental concerns for the area," Senator Robbins said. "The new water lines will address those problems and ensure safe and reliable water service for Sharpsville residents."

"I am pleased that Sharpsville is getting the much deserved and needed state assistance to finance this critical project," said Longietti, D-Mercer. "The community’s water distribution system is over 100 years old and needs repairs to address water pressure and quality issues."

The borough received a $461,245 H2O PA grant from the state earlier this month. Together, these two awards will completely finance the $5 million estimated project cost.

The 20-year PENNVEST loan carries a 1 percent interest rate with interest only payments for the first 5 years. Also, PENNVEST is forgiving $484,156 of the principal of the loan.

In some cases, Sharpsville’s water distribution system has unaccounted for water loss reaching 30% and residents have complained about water discoloration and other water quality problems. "This project will fix leaky lines, improve water quality and provide more water pressure to help fire protection," added Sharpsville Borough Manager Mike Wilson.

PENNVEST, an independent agency, was established in 1988 by the General Assembly. It receives state and federal funding to provide assistance to the owners and operators of substandard and deteriorated water and sewer systems throughout the state.

Contact:

Michael Hengst
(717) 787-1322