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The Commonwealth Financing Authority (CFA) approved five planning grants, totaling $875,000, through the Business in Our Sites (BOS) program to create shovel-ready sites for businesses through land acquisition, construction and feasibility studies.
Since guidelines for Business in Our Sites were approved last fall, the CFA has approved 37 projects totaling more than $76 million, many on brownfields.
The projects approved this week include:
Beaver County: The Beaver County Corp. for Economic Development (CED) will receive up to $175,000 in planning grant funds to assist in the development of the Aliquippa Industrial Park. The funds will be used for engineering costs associated with the design and extension of Woodland Road through Phase II and III, associated drainage, design of sanitary sewers and identifying foundations and footers to be removed and voids to be filled in both phases. The Beaver County CED will redevelop 160 acres of the site, formerly the LTV Steel plant, along the Ohio River. Upon completion, the site will be marketed to manufacturing industries and is expected to create 1,000 jobs.
The Beaver County CED will also receive up to $175,000 in planning grant funds to be used for the redevelopment of the former Crucible Steel Mill into the Midland Industrial Park. The BOS funds will be used for the environmental assessment, engineering costs associated with the design of the infrastructure and to examine the feasibility of subdividing the site for multiple users. Once completed, the site will be marketed to industrial users taking advantage of the docking access to the Ohio River, as well as the main line Norfolk Southern rail service. It is anticipated that 500 jobs will be created as a result of this project.
Berks County: The Berks County Industrial Development Authority will receive up to $175,000 in planning grant funds to develop a 13-acre brownfield site for commercial and residential use. The funds will be used for an environmental assessment of the project site. The brownfield will be developed into 207,000 square feet of commercial space and 97,000 square feet of residential space and will provide shopping and dining experiences, as well as hotel accommodations for area visitors. The project will create 150 jobs and attract $49 million in private investment.
Bradford County: The Central Bradford Progress Authority will receive up to $175,000 in planning grant funds to support the redevelopment of the Sayre Rail yards KOZ site, a 25-acre brownfield parcel located in Sayre Borough. The BOS funds will be used to complete Phase II environmental assessment, develop an environmental remediation plan and prepare an appraisal of the project site. Upon completion, the site will be marketed to manufacturing and warehousing/distribution companies. Redevelopment of the former Lehigh Valley Railroad site is expected to generate up to 100 jobs.
Lancaster County: The Manheim Area Economic Development Corp. (MAEDC) will receive up to $175,000 in planning grant funds to assist in the redevelopment of the former Raymark Industries manufacturing facility. The funds will be used for a feasibility study and engineering costs associated with the first phase development of a business park. MAEDC plans to develop the site in the Greentree Business Center for use by multiple diversified manufacturing, service and commercial businesses. The center will contain approximately 400,000 square feet of business space upon completion. The project is expected to create 516 jobs. The 75-acre site is in a designated Keystone Opportunity Zone.
The Commonwealth Financing Authority is a seven-member board, created to administer and fund projects from programs created by Governor Rendell’s Economic Stimulus Package. The CFA will oversee Business in Our Sites, the Tax Increment Financing Guarantee (TIF), First Industries Fund, New PA Venture Capital Investment, New Pennsylvania Venture Guarantee, Building PA, PennWorks, and the and Second Stage Loan programs.
For more information on economic development programs, visit the NewPA website.
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