Philadelphia Water Department Torresdale Pumping Station Pennvest Funding
CEDARVILLE Engineering Group, LLC (CEG) provided support to prepare, coordinate and submit a PennVEST application to assist the Philadelphia Water Department (PWD) in obtaining a $73,350,000 low interest loan for the Torresdale Pumping Station.
CEG assisted PWD with each step of the PennVEST application including the initial pre-application meeting, filling out the application, and preparing a checklist of items to be completed by PWD, the design consultant and CEG. We also assisted with obtaining approvals for PADEP permits, as well as approvals from other agencies.
CEG provided support to the design consultant with the preparation of necessary documents required to obtain the PennVEST loan. CEG held meetings with PWD and the design consultant to ensure progress was being made to submit the application by the PennVEST deadlines. We then prepared additional documentation as needed after submission and attended the public award meeting for the loan.
The project goal was achieved after PennVEST awarded PWD the $75,350,000 loan with a 1% interest for the first five years and a 1.727% for the remaining fifteen years for a total of 20 years. The client was happy to receive the loan with such a loan interest rate.
- PennVEST Application
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Address: CEDARVILLE Engineering Group, LLC 159 E. High Street, Suite 500 Pottstown, PA 19464 Phone: 610-705-4500 Fax: 610-705-4900 firstname.lastname@example.org