The Venango County Infrastructure Bank (VCIB) Program was established in 2022 to fund transportation, water, wastewater, and stormwater infrastructure improvement projects that support economic development, as well as public health and safety. The VCIB Program provides reduced-interest loan financing for up to 100% of eligible project costs, including some costs, exclusively benefiting municipalities in Venango County in an effort to support infrastructure and other improvement projects Countywide. The Infrastructure Bank is administered by the VCRPC, in coordination with the Venango County Commissioners and County Fiscal Department.
Funding Terms & Interest Rate Subsidy
Eligible applicants may be awarded financing at a fixed reduced interest rate for the 10-year term equal to a 1.5% interest rate subsidy on the financing secured by the County. The official loan and payment terms will be determined following the issuance of County financing.
Eligible Applicants
The following entities based in Venango County may apply for VCIB loans:
- Municipalities
- Municipal Authorities (may require credit support from a local government unit)
Note: School districts, redevelopment and economic development entities and private non-profit organizations may be beneficiaries of VCIB funding through cooperation with an eligible applicant but are not permitted to apply directly to the VCIB Program at this time.