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The original item was published from 4/25/2019 6:00:06 PM to 5/2/2019 6:35:06 PM.

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Cranberry Announcements

Posted on: April 25, 2019

[ARCHIVED] Township lines up partial financing for underpass

The Pennsylvania Infrastructure Bank, a program of the Commonwealth, provides an opportunity to help communities with low-interest loans to finance road projects. Cranberry anticipates the start of construction on the MSA Thruway in 2020 – an underpass below Rt. 228 connecting Cranberry Woods and Cranberry Springs. However, lining up state financing for projects of that type can be a lengthy process. Accordingly, at its April 25 meeting, Cranberry’s Board of Supervisors heard a proposal to submit an application to the Infrastructure Bank for up to $9 million, as a standby line of credit, in case the money is needed to keep the project moving. Separately, the Board adopted a motion to accept a $400,000 grant from the state’s Multimodal Transportation Fund program to assist in connectivity aspects of the underpass. The Board agreed to give final consideration to the $9 million loan application at its May 2 meeting.

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