Krueger announces low-interest loan for Ridley Township stormwater project
FOLSOM, Oct. 16 – State Rep. Leanne Krueger announced that Ridley Township was awarded a low-interest loan for nearly $2.3 million to help with stormwater improvements.
The $2,287,945 loan was approved Wednesday by the Pennsylvania Infrastructure Investment Authority.
It will be used for numerous improvements to the existing stormwater system, including 8,105 feet of storm sewer, 108 inlets, three manholes, 390 feet of infiltration trench and a 7,500-square-foot infiltration bed, as well as measures to collect runoff from railroad tracks. Water quality trenches will filter out debris and pollutants before they enter Darby Creek and the Delaware River.
“This work is expected to help eliminate occasional flooding and protect the quality of our water,” said Krueger, D-Delaware. “This is necessary work that will benefit our community, and I’m pleased to see the state assist Ridley Township with this important project.”
The 20-year loan carries an interest-only period for the first five years, with a rate of 1.45%, followed by an interest rate of 2.03 percent after that.