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Farnese Announces Over $2 Million in Tax Credits for Community Development Projects
On November 15, 2019
Harrisburg – November 15, 2019 – Sen. Larry Farnese (D – Philadelphia) announced today that community development projects in his district have been awarded over $2 million in state tax credits.
“Strong investments in our communities are a strong investments in our future,” Farnese said.
The tax credits come through the Neighborhood Assistance Program (NAP) and the Pennsylvania Department of Community and Economic Development. Projects eligible for NAP funds must serve distressed areas or support neighborhood conservation.
Projects to receive tax credits in Farnese’s district include:
- Philabundance – To address food insecurity issues as well as education, financial literacy, and housing to lift people out of poverty – $1,801,250
- Friends of the Rail Park – Upgrades to the Rail Park and community engagement – $55,000
- Spring Garden Community Development Corporation – To create a green space for seniors living in poverty – $25,988
- Local Initiative Support Corporation (LISC) – For their Mantua Transformation Project to create more affordable housing and continuing work to lift people out of poverty – $75,000
- New Kensington Community Development Corporation – To increase homeownership and financial literacy in the Kensington neighborhood – $75,000
- Playworks Philadelphia – To increase children’s access to support services and healthy physical activity – $37,500
- Project HOME – To increase healthcare access to chronically underserved areas and populations – $56,250
Tax credits for these projects is a total of $2,125,988.
“All of these projects work to improve the lives of our most vulnerable community members,” Farnese said. “I will continue to fight for state monies to be dedicated to make sure people have the housing, food, and social services they need to succeed.”