BACKGROUND:
”Business In Our Sites” is a loan and grant program offered by the Commonwealth of Pennsylvania as part of its new Economic Stimulus Program. The goal of this $300 Million program is to create “shovel-ready” sites within the Commonwealth to attract new or expanding businesses. The Commonwealth Financing Authority, a new State agency, will administer the Business in Our Sites program.

USES:
Planning Grants
1) Environmental Assessments and Geo-technical Studies.
2) Planning, Engineering, and Cost Estimates
3) Marketing and Financial Feasibility Studies.
4) Wetlands Delineation.
5) Administrative fees, permit fees, legal costs, loan closing costs, and expenses for other professional services.

Construction Grants
1) Environmental Assessment and Remediation.
2) Demolition and Site Preparation.
3) Infrastructure Construction or rehabilitation, with related engineering and administrative costs.

Construction Loans
1) Property Acquisition
2) Demolition.
3) Site Preparation.
4) Environmental Assessments and Remediation.
5) Engineering and Design.
6) Infrastructure Construction or Rehabilitation (includes water, sewer, electrical, gas, communications, transportation, parking, sidewalks, bridges, rail and port related facilities).

FINANCING:
Planning grants are available in amounts up to $250,000 for uses detailed above.
Construction grants of up to $5 million are available in conjunction with construction loans.
Construction grants are available up to a maximum of $45 million per county.
Applications for Planning or Construction Grants must be made through a public agency, such as PIDC, which will also assist developers with the Construction Loan application process.

For more information, contact Sam Rhoads at, 215.496.8132.
For more information on the State’s new Economic Stimulus Program, visit www.newpa.com.