New Kensington approves loan agreement to repave 17 streets
New Kensington Council gave the final OK on how it will pay for road improvements in the city this year and next.
The city entered into a loan agreement with the Pennsylvania Infrastructure Bank to borrow $1.19 million for street improvements.
The program is designed to provide low-interest loans and lines of credit to help fund transportation projects.
The loan will be used for projects this year and next, said City Clerk John Zavadak.
The list of streets to be paved with the funding is preliminary, Zavadak said.
It includes: Fourth Avenue, from Ninth to 11th streets; Beech Street, from Seventh Street Road to Strawn Avenue; Haser Drive, from Seventh Street Extension to Zaleski Drive; Zaleski Drive; Birch Street, from Oates Boulevard to Vogel Drive; Summit Street, from Seventh Street Road to Pleasant Avenue; Constitution Boulevard, from Seventh to Ninth streets.
It also includes Spring Street, from Seventh Street Road to Pleasant Avenue; Pleasant Avenue, from Spring to Summit streets; McLaughlin Drive; Charles Avenue, from Oakwood Street to the cul-de-sac; Grandview Boulevard, from Seventh Street Road to Ross Avenue; Industrial Boulevard, from Ninth to 10th streets; and Adams Street, from Fernledge Drive to Caldwell Avenue.
Others on the list are Esther Avenue, from Constitution Boulevard to Louise Street; Catalpa Street, from Freeport Road to Orchard Street; and Long Vue Drive, from Seventh Street Extension to Fairmont Street.
City officials said previously that the list was shared with utility companies to make sure there were no conflicts with their projects.
Zavadak said the repayment period on the loan is 10 years with an annual payment of $146,311. The fixed interest rate is 3.88% with an annual percentage rate of 3.945%.
A portion of the city’s liquid fuels tax revenue has been pledged as collateral, Zavadak said.
Council also awarded an $117,825 bid to Tresco Paving to pave the Ninth Street underpass, part of Industrial Boulevard, part of Eleventh Street, and Greenridge Road. Tresco was the lowest bidder, Zavadak said.
“It’s been a long time coming, getting these roads paved,” said Councilman Tim DiMaio.
Kellen Stepler is a TribLive reporter covering the Allegheny Valley and Burrell school districts and surrounding areas. He joined the Trib in April 2023. He can be reached at kstepler@triblive.com.
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