Council notified of $5 million PennVEST loan offer for Warren Oldham work
May 02, 2022 | Lock Haven, Clinton County, Pennsylvania
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City officials told the Lock Haven City Council that the city has received a funding offer from PennVEST: a $5,000,000 low‑interest (1%) loan intended for phase one of modifications to the Warren Oldham facility in Green Township.
A presenter described the PennVEST notice as a funding offer rather than a completed agreement and said the city still must complete documentation and signatures before funds are finalized. The presenter characterized the notice as a positive sign that the project can move forward but did not identify specific next steps or a timeline for finalizing terms.
The transcript records the statement: “The city was awarded $5,000,000 in a low interest 1% loan from Penvest for phase 1 of the modifications to Warren Oldham, which the city owns in Green Township,” attributed in the transcript to a city presenter. The meeting record shows this as a notification item under unfinished business; the council did not take formal action on the loan at the meeting.
Why it matters: PennVEST loans typically provide low‑cost financing for water infrastructure; if finalized, the financing would underwrite early construction or modification work on a city‑owned facility. Council members were informed but did not vote; staff flagged that additional documentation and signatures are required.
Next steps: Staff follow‑up to complete documentation and report back to council; any borrowing or acceptance of loan terms will require formal approval in a future meeting.
Quote from the meeting: “The city was awarded $5,000,000 in a low interest 1% loan from Penvest for phase 1 of the modifications to Warren Oldham,” a city presenter said during unfinished business.
A presenter described the PennVEST notice as a funding offer rather than a completed agreement and said the city still must complete documentation and signatures before funds are finalized. The presenter characterized the notice as a positive sign that the project can move forward but did not identify specific next steps or a timeline for finalizing terms.
The transcript records the statement: “The city was awarded $5,000,000 in a low interest 1% loan from Penvest for phase 1 of the modifications to Warren Oldham, which the city owns in Green Township,” attributed in the transcript to a city presenter. The meeting record shows this as a notification item under unfinished business; the council did not take formal action on the loan at the meeting.
Why it matters: PennVEST loans typically provide low‑cost financing for water infrastructure; if finalized, the financing would underwrite early construction or modification work on a city‑owned facility. Council members were informed but did not vote; staff flagged that additional documentation and signatures are required.
Next steps: Staff follow‑up to complete documentation and report back to council; any borrowing or acceptance of loan terms will require formal approval in a future meeting.
Quote from the meeting: “The city was awarded $5,000,000 in a low interest 1% loan from Penvest for phase 1 of the modifications to Warren Oldham,” a city presenter said during unfinished business.
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