direction for a distance of 230.10' more or less
to a point on the West line of North 8th Street;
thence along the West line of North 8th Street in
a Southerly direction for a distance of 134.16'
more or less to the place of BEGINNING.
CONTAINING 40,756 square feet more or less. 20,000,000
(Base Project Allocation - $20,000,000)
(2) (Reserved).
Section 4. Duration of payments.
Notwithstanding any other provisions of law:
(1) The amount allocated to the project described in
section 3(1) shall be paid in annual amounts of not less than
$2,000,000 for 10 years, subject to section 5.
(2) (Reserved).
Section 5. Limitation on expenditures.
(a) General rule.--Beginning in fiscal year 2019-2020, or
the first fiscal year in which the indebtedness described under
section 3 is incurred, whichever occurs later, it shall be
mandatory, not directory, that payments pursuant to section 4(1)
shall be made each year from the Pennsylvania Gaming Economic
Development and Tourism Fund by the Department of Community and
Economic Development.
(b) Proportionate reduction.--In any year that the
Department of Community and Economic Development determines for
any reason that there are not sufficient funds to make the
mandatory payment, the amount of the mandatory payment shall be
proportionately reduced in an amount equal to the shortfall in
the Pennsylvania Gaming Economic Development and Tourism Fund.
(c) Total expenditures.--Total expenditures under this act
for the projects referred to in section 4 shall not exceed the
total amount authorized for each project in section 3.
Section 6. Limitation on use of allocation.
No more than one-tenth of 1% of the amount of a grant
allocated under section 3 may be used for administrative costs
incurred by the regional economic development corporation
described in section 3 for which the allocation was authorized.
Section 7. Appropriations.
The sums necessary for the annual amounts itemized in
sections 3 and 4 are hereby appropriated from the Pennsylvania
Gaming Economic Development and Tourism Fund to the Department
of Community and Economic Development, upon approval of the
Governor, for the projects itemized in this act.
Section 8. Report.
The Secretary of the Budget shall, within 10 days of the
expiration of each quarter of each fiscal year, electronically
provide to the chair and minority chair of the Appropriations
Committee of the Senate and the chair and minority chair of the
Appropriations Committee of the House of Representatives a
report relating to the authorized projects described in section
3 which includes at least all of the following:
(1) The authorized project approved for release in the
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