|Posted:||May 20, 2021 12:34 PM|
|From:||Senator Lisa M. Boscola and Sen. John T. Yudichak, Sen. Wayne Langerholc, Jr.|
|To:||All Senate members|
|Subject:||Economic Development Dollars|
|We plan to introduce legislation that will create a new program administered by the Commonwealth Financing Authority that will use a portion of the Commonwealth’s American Recovery Program Dollars to drive economic recovery in our communities. We should be using these one-time dollars to jump start our economy and complete dynamic projects in our communities using programs that we know work and put all of Pennsylvania on the path to sustained growth as we come out of the pandemic.
Projects considered in this program would have applied for Redevelopment Assistance Capital Program (RACP), Business in our Sites or Industrial Sites Reuse Program (ISRP) in either 2019 or 2020 and were not funded or fully funded to be eligible. Using these one-time dollars to help create short term construction jobs, more permanent full-time jobs, and reuse our old, decaying industrial sites scattered throughout our Commonwealth will provide a broader return of investment. This program will sunset when all American Recovery Program dollars have been expended by the Commonwealth.
We hope you will join us in co-sponsoring this important initiative.
Introduced as SB977