Philadelphia, Pittsburgh Win HUD Grants to Stimulate Community Development
WASHINGTON, D.C. —U.S. Senators Arlen Specter (R-Pa.) and Bob Casey (D-Pa.) today announced that the U.S. Department of Housing and Urban Development (HUD) is awarding $9,480,000 in grants to several communities in Pennsylvania. The funding is administered through the Brownfield Economic Development Initiative (BEDI), a competitive grant program to stimulate and promote economic and community development. BEDI is designed to assist cities with the redevelopment of abandoned, idled and underused industrial and commercial facilities where expansion and redevelopment is burdened by environmental contamination.
“I am pleased that HUD is awarding this money to several Pennsylvania cities for their redevelopment projects,” Senator Specter said. “Restoring these blighted sites will help revitalize our cities and be a great impetus for future cultural and economic growth.”
“At a time when families are struggling, investing in new community development initiatives is vitally important,” said Senator Casey. “These grants will promote economic development in communities across the Commonwealth and I will continue to fight to ensure Pennsylvania receives its fair share of federal funding for vital projects to help revitalize our economy.”
BEDI funds must be used in conjunction with a Section 108 loan, a loan guarantee provision of the Community Development Block Grant program. As such, Pennsylvania is poised to receive an additional $25,466,000 in funding through HUD to finance the projects.
In today’s announcement, the City of Philadelphia will receive $6 million for 3 projects, the City of Pittsburgh will receive $3 million for 2 projects, and the City of Jeanette in Westmoreland County will receive $480,000. Pennsylvania received more BEDI grants than any other state in the U.S in Fiscal Year 2007.
Communities in Pennsylvania receiving BEDI grants:
$480,000 for the City of Jeannette in Westmoreland County for the Sixth Street Revitalization Project. Federal funds will be committed to assisting redevelopment of the residential site through environmental remediation and establishment of a loan loss reserve. The City is also slated to receive $966,000 in a Section 108 Loan.
· $2 million for the City of Philadelphia for redevelopment in the Mill Creek and Walnut Hill neighborhoods. Funds will be used for the Commercial and Retail component of this mixed-use development. The project aims to create up to 100 construction and 100 permanent jobs of which at least 51% will be for low and moderate income individuals. The City is also slated to receive $3.5 million in a Section 108 Loan.
· $2 million for the City of Philadelphia for the Essington Avenue Brownfield project. The project’s goal is to create and retain 1500 jobs by redeveloping a blighted site as the new location for the Philadelphia Regional Produce Market. The City is also slated to receive $2 million in a Section 108 Loan.
· $2 million for the City of Philadelphia for the Schmidt’s Development Project. Funds will be used to create a walkable streetscape and transform a prominent vacant expanse into a retail destination. The project will create and retain jobs for low and moderate income persons. The City is also slated to receive $5 million in a Section 108 Loan.
· $1 million for the City of Pittsburgh for the SouthSide Works Infrastructure Project. The funding will be used to complete street improvements, roadways and a parking structure in order to foster further economic development and additional jobs within the large scale economic development project. The City is also slated to receive $4 million in a Section 108 Loan.
· $2 million for the City of Pittsburgh for a revitalization project in the East Liberty neighborhood. Funding will help to acquire, remediate, demolish, prepare a site, and retrofit roads for a large-scale retail store. The City is also slated to receive $10 million in a Section 108 Loan.
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“I am pleased that HUD is awarding this money to several Pennsylvania cities for their redevelopment projects,” Senator Specter said. “Restoring these blighted sites will help revitalize our cities and be a great impetus for future cultural and economic growth.”
“At a time when families are struggling, investing in new community development initiatives is vitally important,” said Senator Casey. “These grants will promote economic development in communities across the Commonwealth and I will continue to fight to ensure Pennsylvania receives its fair share of federal funding for vital projects to help revitalize our economy.”
BEDI funds must be used in conjunction with a Section 108 loan, a loan guarantee provision of the Community Development Block Grant program. As such, Pennsylvania is poised to receive an additional $25,466,000 in funding through HUD to finance the projects.
In today’s announcement, the City of Philadelphia will receive $6 million for 3 projects, the City of Pittsburgh will receive $3 million for 2 projects, and the City of Jeanette in Westmoreland County will receive $480,000. Pennsylvania received more BEDI grants than any other state in the U.S in Fiscal Year 2007.
Communities in Pennsylvania receiving BEDI grants:
$480,000 for the City of Jeannette in Westmoreland County for the Sixth Street Revitalization Project. Federal funds will be committed to assisting redevelopment of the residential site through environmental remediation and establishment of a loan loss reserve. The City is also slated to receive $966,000 in a Section 108 Loan.
· $2 million for the City of Philadelphia for redevelopment in the Mill Creek and Walnut Hill neighborhoods. Funds will be used for the Commercial and Retail component of this mixed-use development. The project aims to create up to 100 construction and 100 permanent jobs of which at least 51% will be for low and moderate income individuals. The City is also slated to receive $3.5 million in a Section 108 Loan.
· $2 million for the City of Philadelphia for the Essington Avenue Brownfield project. The project’s goal is to create and retain 1500 jobs by redeveloping a blighted site as the new location for the Philadelphia Regional Produce Market. The City is also slated to receive $2 million in a Section 108 Loan.
· $2 million for the City of Philadelphia for the Schmidt’s Development Project. Funds will be used to create a walkable streetscape and transform a prominent vacant expanse into a retail destination. The project will create and retain jobs for low and moderate income persons. The City is also slated to receive $5 million in a Section 108 Loan.
· $1 million for the City of Pittsburgh for the SouthSide Works Infrastructure Project. The funding will be used to complete street improvements, roadways and a parking structure in order to foster further economic development and additional jobs within the large scale economic development project. The City is also slated to receive $4 million in a Section 108 Loan.
· $2 million for the City of Pittsburgh for a revitalization project in the East Liberty neighborhood. Funding will help to acquire, remediate, demolish, prepare a site, and retrofit roads for a large-scale retail store. The City is also slated to receive $10 million in a Section 108 Loan.
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