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Senate Co-Sponsorship Memoranda
Senate of Pennsylvania
Session of 2023 - 2024
Regular Session
MEMORANDUM
| Posted: | March 22, 2023 02:08 PM |
|---|---|
| From: | Senator Nick Miller |
| To: | All Senate members |
| Subject: | Revitalizing the Business in Our Sites (BOS) |
| In the near future I plan to introduce legislation to recapitalize the Business in Our Sites Program (BOS). Established in 2004, BOS has been providing grant and loan funding for acquisition and preparation of sites for economic development opportunities. These projects drive private sector investments that stimulate local economies and create many construction and permanent jobs. The programs is run by the Department of Community and Economic Development and currently survives on recycled loan repayments. While that provides some annual funding, it is drastically short of fully delivering on the promise of more investment. Both previously utilized, but blighted properties, and undeveloped sites are eligible for access to funding under the program. My proposal would inject $300 million in new investment into BOS, so that we can fully realize the program’s potential. As we know, site preparation is a major hurdle to kicking off development opportunities, so this new funding will help make us competitive with other states. Please join me in cosponsoring this legislation. |
Introduced as SB783