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HARRISBURG, November 9, 2005 – State Sen. J. Barry Stout and
Rep. Bill DeWeese today announced the approval of a $330,000 loan
for the Greene Cove Yacht Club and Campground to upgrade their
wastewater infrastructure and prevent further contamination of Lower
Ten Mile Creek and the Monongahela River in Greene County.
“It’s important for the state to step in and help keep our rivers
and streams pristine,” said Stout (D-Washington/Greene). “This is an
environmental issue for all of Pennsylvania.”
"This is a sound investment that serves environmental, recreational
and public health needs. PENNVEST has proven once more that it
understands another complex project in southwestern Pennsylvania,"
DeWeese said.
At today’s meeting, the Pennsylvania Infrastructure Investment
Authority (PENNVEST) board approved an application for a $330,000
loan (to be repaid over 20 years, at an interest rate of 1.387
percent in the first five years and 2.773 percent thereafter).
The Greene Cove Yacht Club and Campground will use the funds to
construct a pump station and sewer lines connecting to the East
Bethlehem system.
An independent agency managed by a 13-member Board of Directors,
PENNVEST is funded by nearly $2 billion from state appropriations,
state bond sales, and federal grants. While helping hundreds of
local governments take on clean water projects, PENNVEST funding has
also generated thousands of construction jobs and helped maintain
thousands more.
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