HARRISBURG, July 22, 2015 – The ongoing rejuvenation of Reading’s treatment facilities today counted the approval of a $37.2 million low-interest loan for the replacement of the Fritz Island solid waste treatment plant.
Just as it approved an $84.6 million loan in April for Reading’s wastewater treatment plant, PENNVEST approved the new low-interest advance during its meeting today. The $37.2 million project will also help to protect the Schuylkill River from raw sewage discharges, and it will help to resolve National Pollutant Discharge System violations.
The new project is expected to create 65 construction jobs.
“With hard, diligent work, the understanding of PENNVEST’s board, and the cooperation of the U.S. Department of Justice, it is our pleasure to announce the approval of this new loan to get the Fritz Island solid waste treatment plant working correctly again,” said Sen. Judy Schwank. “Years of neglect jeopardized south Reading and the people living downstream from Fritz Island, but that’s about to change in a big way.”
“We need these funds to make sure Reading residents are protected from pollution and the Schuylkill River flows cleanly and freely,” Rep. Thomas Caltagirone (D-Reading) said. “More than $121 million is being delivered to Fritz Island and the city from PENNVEST, which is the help we need to improve the systems’ ability to deliver great service and to restore Reading’s role as good environmental stewards.”
The 20-year loan carries a one-percent interest rate and it will not impact the rates residents now pay for solid waste treatment.
“It’s a good news kind of day for Reading and its environs,” said Rep. Mark Rozzi. “Not only will raw sewage stop traveling into the Schuylkill during rainy weather and bodies of surface water that support the river be better protected, but residents’ monthly bills will not go up because of this project.”
Pennsylvania Infrastructure Investment Authority funding comes from a combination of state funds approved by voters, federal grants to PENNVEST from the U.S. Environmental Protection Agency, and recycled loan repayments from previous PENNVEST funding awards.
Funds are not released until bills for work are paid and receipts are submitted to PENNVEST.
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