KeyBank will lend the Butler County Infrastructure Bank $24 million, which will in turn be leant to five municipal organizations for various projects.

The county commissioners recently approved the bid by KeyBank, which will lend the infrastructure bank the funds at an interest rate of 1.707%.

The infrastructure bank will only charge their loan recipients an interest rate of 0.56% and subsidize the remaining amount.

Most municipalities and authorities approved for low-interest loans in the three years of the infrastructure bank's existence could not have completed their projects without the assistance and low interest rates offered by the infrastructure bank.

“It's a really good thing and pretty unique to Butler County,” said Mark Gordon, the county chief of economic development and planning.

This is an excerpt from a larger article that appears in Thursday's Butler Eagle. Subscribe online or in print to read the full article.