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The original item was published from 12/6/2018 1:17:42 PM to 12/13/2018 6:35:07 PM.

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Cranberry Announcements

Posted on: December 6, 2018

[ARCHIVED] Authorization granted to borrow from new boutique bank

The Butler County Infrastructure Bank was created in 2017 to help communities in the County support economic development by financing transportation and water system improvements at below-market borrowing rates, subsidized by County income from Marcellus Shale gas fees. Last April, Cranberry submitted two funding applications to the bank, both of which were approved. One of them underwrites the costs of reinforcing the Township’s aging sewer lines. At its December 6 meeting, Cranberry’s Board of Supervisors adopted an ordinance that would permit the Township to borrow up to $7.6 million from the bank for use in rebuilding the Franklin Acres sewage pump station as well as sewer Interceptors 1 and 7, plus the MSA Thruway project.

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