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The original item was published from 3/1/2018 4:27:12 PM to 3/1/2018 4:52:44 PM.

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Posted on: March 1, 2018

[ARCHIVED] Cranberry seeks subsidized loan for sewer and water line rehabilitation

At its March 1 meeting, Cranberry’s Board of Supervisors
approved the Township’s filing of a $2 million loan request from an innovativeButler County program.  The program,
called the Butler County Infrastructure Bank Loan, uses income that the countyreceives from the state’s gas and oil production royalties to subsidize loans to
local municipalities at below-market interest rates.  The borrowed funds are used to help financevarious types of municipal infrastructure improvements.  If approved, Cranberry would use the funds to
do advance maintenance and rehabilitation on its sewer and waterlinenetworks.  County action on the loan
requests it receives are expected in June. 


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