Harrisburg, PA – September 11, 2015 – (RealEstateRama) — Governor Wolf announced today that the Commonwealth Financing Authority approved funding to support a new Building Pennsylvania project in Lancaster County, a move that is projected to result in more than $21.8 million in additional economic investments.
“The Building Pennsylvania program allows for important investments to be made in the state’s small to mid-sized communities to support continued development and today we’re thrilled that the Commonwealth Financing Authority has approved such an investment in Warwick Township,” said Governor Wolf.
The EDC Finance Corporation will receive a $3,192,154 loan on behalf of Pod #2 at Rock Lititz, LP for the construction of a 252,000-square-foot building in Warwick Township. The proposed building is Phase II of the development and will be located on 10 acres located within the Rock Lititz Campus where various technology partners will work together on live event projects. The total project cost is estimated at $21,821,029.
The Building Pennsylvania program provides mezzanine capital for building construction projects to be used by eligible applicants for construction, or renovation of, commercial, industrial, and mixed-use buildings in small to mid-sized Pennsylvania communities.
For more information about the Building Pennsylvania program, the CFA, or a complete list of approved projects, visit www.newpa.com/cfa.