myoder@cpbj.com
The Pennsylvania Housing Finance Agency announced Monday
that it is pursuing requests of proposals for new construction or
rehabilitation of mixed-use projects that need financial support.
The funding, which is provided through the Community
Revitalization Fund Program, was created as part of the state’s fiscal year
2017/18 budget and was designed to help facilitate mixed-use projects to serve
as a catalyst for neighborhood revitalization. A total of $3 million in state
tax credits has been authorized in this year’s budget for the program.
"We're looking to fund projects that not only will
bring a direct benefit to communities but that also have the potential to
attract additional investment to areas seeking redevelopment," said PHFA
executive director and CEO Brian A. Hudson Sr. "Our goal is to
use this funding in a way that achieves the maximum benefit for communities and
stimulates revitalization beyond each individual project receiving financial
support."
Examples cited as projects eligible for program funding
include:
- Rehabilitation of old or under-utilized buildings for re-use by the community.
- Preparation of buildings for business leasing.
- Designing or changing buildings for new usage.
Eligible applicants for the program include local government
entities, redevelopment authorities, for-profit companies, non-profit groups
and economic development organizations. Officials said applications coming from
third-class cities will be given higher priority in evaluations.
The deadline for all applicants is 2 p.m. on Oct. 18. For
more information go to the PHFA website or contact Bryce Maretzki at 717-780-1867.
