Pittsburgh utility lands $209 million loan to fund water infrastructure upgrades
PITTSBURGH, Pa. (UC) — PennVest has awarded a $209 million loan to the Pittsburgh Water and Sewer Authority to fund its Water Reliability Plan, a massive initiative to upgrade the city’s drinking water infrastructure.
The loan, set at an interest rate of 1 % for 30 years, will fund 11 projects across the state. In a statement to the Pittsburgh Post-Gazette, PWSA spokeswoman Rebecca Zito said the loan will save the authority roughly $156 million as opposed to traditional municipal bond financing.
The total cost for the projects is estimated at roughly $470 million over the next six years. It will cover replacing the 114-year-old underground clearwell system that serves the Lanpher reservoir in Shaler and Highland Park 2 reservoir above the Pittsburgh Zoo and PPG Aquarium, allowing the flow of chlorinate water.
To completely replace the clearwell, a critical step to successfully purifying the water, it will take an estimated $65.8 million that will be done near the end of the work.
In addition, PWSA plans to replace two pumping stations and refurbishing huge water lines that feed the reservoirs.
PWSA has also applied for federal funding to aid in paying for the water improvements across the city and expects to receive a decision by the end of the year, according to Zito.
“If we were able to get both batches of funding it would help to fund the entirety of the Water Reliability Plan,” she said.
However, she said the authority plans to make the needed upgrades with or without the federal funding.
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