HARRISBURG, Pa., Oct. 24 /PRNewswire-USNewswire/ — The Department of Community and Economic Development Secretary Dennis Yablonsky today announced Pennsylvania’s investment in an Allentown townhouse project.
Yablonsky said the North Street Revitalization Project, an initiative of the Housing Association and Development Corporation, will receive $150,000 in tax credits to help it build nine townhouses that will be sold to low to moderate-income residents. Construction is expected to be finished by the end of the year.
“Under the direction of Governor Edward G. Rendell, Pennsylvania is supporting exciting projects that combine state, local and private resources to create an environment for growth and opportunity. We are investing in our neighborhoods and in our people,” Yablonsky said.
The Governor created the Neighborhood Partnership Program in 2005 to foster collaboration among for-profit businesses, non-profit community development organizations, local government and neighborhood residents to improve the quality of life in distressed communities.
Under the program, the companies are eligible to receive tax credits equal to 75 percent of their contribution. Wachovia Bank, Air Products and Chemicals Inc. and PPL Corp. contributed funding for the project.
“The Governor created the Neighborhood Partnership Program to give communities another tool to help them reach their full potential,” Yablonsky said.
To learn more about the Neighborhood Partnership Program and other sources of community funding available through DCED, call 1-866-466-3972 or visit www.newPA.com.
CONTACT: Janel Miller
SOURCE Pennsylvania Department of Community & Economic Development
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