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PENNVEST OFFICIAL TESTIFIES BEFORE CONGRESSIONAL COMMITTEE

 WASHINGTON, Feb. 24 /PRNewswire/ -- Gov. Robert P. Casey's innovative approach to financing local clean water infrastructure through the Pennsylvania Infrastructure Investment Authority (PENNVEST) received national attention today.
 Dr. Paul K. Marchetti, executive director of PENNVEST, testified before the Water Resources and Environment Sub-Committee of the House Public Works and Transportation Committee. He discussed the PENNVEST program, which provides financial assistance for local water and sewer project improvements.
 The PENNVEST program receives some federal funding but depends mostly on state funds to provide low-interest loans for wastewater projects. The proceeds from the loans are returned to the fund and used to finance additional projects.
 Marchetti's remarks before the committee focused on PENNVEST's successful funding of drinking water and wastewater projects in rural counties and those involving small systems. He said PENNVEST's successes would be ideal models for modifications to the federal program.
 "PENNVEST was designed to address the water quality problems of all Pennsylvanians, with a particular emphasis on small systems and rural communities, due to their prevalence across the Commonwealth," Marchetti said. "As our experience shows, this program design has worked extremely well."
 Marchetti praised the Clinton Administration's proposal to expand and extend funding for the state revolving loan program to drinking water projects and encouraged members of the subcommittee to target this funding to address the needs of small systems and rural communities.
 He also said that as part of efforts to stimulate the economy in Pennsylvania, PENNVEST has proven to be a successful tool for job creation while providing a cleaner environment for its citizens.
 Since it's inception, PENNVEST has funded 656 projects for a total of $1.082 billion in state and federal financing resulting in approximately 41,000 jobs. The funded projects serve some six million people or one in two Pennsylvanians.
 /delval/
 -0- 2/24/93
 /CONTACT: William C. Shadow II of PENNVEST, 717-783-4487/


CO: Pennsylvania Infrastructure Investment Authority ST: Pennsylvania IN: SU:

MJ -- PH033 -- 0106 02/24/93 17:14 EST
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Date:Feb 24, 1993
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