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Council hears proposal to guarantee PENNVest loan for Altoona Water Authority ozone-treatment project
Summary
A representative for the Altoona Water Authority described a proposed PENNVest loan and asked the City to introduce an ordinance guaranteeing the authority's loan obligations; the principal was stated as $9,000,007.50 with a council-guarantee cap not to exceed $9,750,000.
Council members heard a presentation Monday evening from a representative of the Altoona Water Authority about a proposed Pennsylvania Infrastructure Investment Authority (PENNVest) loan to fund ozone-treatment improvements at the Horseshoe Curve and Kettle treatment facilities.
Jens, speaking for the authority, said the project is a continuation of prior water-system improvements and that…
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