FOR IMMEDIATE RELEASE:
Contact: Tanya Dierolf
CAPITAL REGION WATER TO RECEIVE $13 MILLION PENNVEST LOAN
Lower Borrowing Rate to Aid in Offsetting Costs
HARRISBURG, PA (Oct. 17, 2019) — Governor Tom Wolf recently announced that Capital Region Water was one of 16 successful grant and loan recipients to receive funding through the Pennsylvania Infrastructure Investment Authority (PENNVEST). Capital Region Water will use the $13 million loan to construct green stormwater infrastructure projects throughout the City of Harrisburg. Such projects ensure Capital Region Water is meeting state and federal clean water obligations while providing additional community benefits to the residents of Harrisburg.
“On behalf of Capital Region Water’s Board of Directors, we wish to express our gratitude for the financial assistance provided through PENNVEST,” said Capital Region Water CEO Charlotte Katzenmoyer. “This funding will help Capital Region Water protect public health and the environment while offsetting the financial burden placed on our customers. The borrowing rate of 1% means that Capital Region Water’s customers will save $3.5 million over the term of this loan compared to traditional bond financing.”
Capital Region Water is committed to meeting all regulatory obligations while also ensuring the affordable implementation of capital projects. As part of its City Beautiful H2O Program Plan, Capital Region Water is restoring failing infrastructure, reducing combined sewer discharges, improving the health of local waterways, combating localized flooding, and beautifying neighborhoods through green stormwater infrastructure.
Green stormwater infrastructure incorporates nature-based strategies to better manage stormwater and prevent excess stormwater from overloading Capital Region Water’s combined sewer system and causing a mixture of sewage and stormwater to overflow into local waterways. Capital Region Water uses the term “green acre” to quantify the amount of impervious surface managed by green stormwater infrastructure. With the assistance of the PENNVEST loan, Capital Region Water will achieve 50 greened acres over five years which will result in an annual capture rate of between 20 and 40 million gallons of stormwater. The first two projects are scheduled for 2020 in the South Allison Hill and Camp Curtin neighborhoods of Harrisburg.
|Tanya Dierolf | Sustainability & Strategic Projects Manager
888‑510‑0606 | 717-216-5259 (o)
|Capital Region Water
212 Locust Street, Suite 500 | Harrisburg, PA 17101
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