A low-interest loan has been awarded to Richland Borough to aid in the installation of a new water tank, according to Representative Russ Diamond from Lebanon. The Pennsylvania Infrastructure Investment Authority (PENNVEST) approved the $4.1 million loan with interest rates between 1.743% and 2.179%, set over a 20-year period.
Rep. Diamond stated, “Richland is seeking to install an elevated tank to replace its existing one and ensure the community is well served for decades to come.” He expressed gratitude towards PENNVEST for recognizing the significance of this project.
The new water tank will have a capacity of 500,000 gallons and will be equipped with communication and mixing systems, including an emergency generator. PENNVEST operates as an independent state agency providing financial assistance for sewer, stormwater, and drinking water projects across Pennsylvania.
For further information or media inquiries, contact Jennifer Fitch at 717-260-6563 or via email at jfitch@pahousegop.com.
