Tuesday night, Indiana Borough Council approved an ordinance that sets up the financing for the solar project at the Wastewater Treatment Plant.
Prior to the vote, a presentation on the debt ordinance was made by Michael McCaig, managing director of the mutual finance department with Raymond James’ office in Pittsburgh. He said that this will enable the borough to borrow money for the project at a projected cost of $1.4 million. Borough solicitor Pat Dougherty said that the amount they are borrowing is $1.9 million to give them flexibility. Dougherty added that while the upfront cost was higher, the borough will also receive some tax credits through the use of domestic products.
Council also approved holding the 8th Street Design Charette on September 26th. The workshop will be held on 8th Street between School and Philadelphia Streets and in the 8th Street Parking Lot from 4-7 PM.
