City secures $5M loan for Warren Oldham modifications and reviews 2023 Water Fund budget

Lock Haven City Council made significant strides in its May 2, 2022, meeting, particularly with the announcement of a $5 million low-interest loan from Penvest for the first phase of modifications to the Warren Oldham facility in Green Township. This funding marks a crucial step forward for the city, enabling essential infrastructure improvements that are expected to enhance local services.

The council also initiated discussions on the 2023 Water Fund budget, providing an initial draft for review. This year, the council plans to dedicate more time to the budget process, with additional meetings scheduled in May and June to allow for thorough examination and public input. The budget document is available on the city’s website, encouraging community engagement through surveys that have already garnered strong participation.

Key highlights from the budget discussion revealed that the city serves 3,237 water customers, with a significant portion of costs borne by residential properties. Notably, the city has not raised water rates in 11 years, despite a cumulative inflation rate of 27.8% during that time. The council acknowledged the need to address this issue, as the fund balance has diminished, prompting discussions about potential rate increases to ensure the sustainability of the water system.

The meeting underscored the importance of these financial decisions, as the city prepares for an estimated $27 million in improvements to its drinking water system, which includes aging infrastructure that requires urgent attention. The council's proactive approach aims to balance fiscal responsibility with the need for reliable water services for its residents and businesses.