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Farnese: Help Available to Rebuild and Revitalize Neighborhoods in Philadelphia
On November 2, 2018
Harrisburg, PA – November 2, 2018 – A new source of funding for economic development, neighborhood revitalization and community improvement in Philadelphia will soon be available, according to state Sen. Larry Farnese (D-Philadelphia).
The new economic development fund was developed by Farnese via language he inserted into Act 42.
“Local share revenues will serve as an important resource to help the continued development of our neighborhoods,” Farnese said. “The gaming funds will help generate new business activity, create jobs and rehabilitate areas in Philadelphia.”
Applications will be available beginning Dec. 1, 2018. The application window closes Jan. 31, 2019. Grant amounts will vary based on specific projects. Grants will range from $10,000 to $500,000.
Farnese said that the Local Share Account (LSA) funding can be used for a variety of purposes including land acquisition, construction, equipment, demolition, signage, landscaping, engineering and administrative costs.
“Dedicated economic development funding from gaming local shares is something I have been pushing for since 2010,” Farnese said. “Philadelphia is unique in that we host two casino licensees. This new money will allow the city to continue to support those casinos while ensuring that communities throughout Philadelphia are not negatively impacted.”
He said that this provision will bring Philadelphia more in line with other municipalities that receive casino assessments and allow the partnership between Philadelphia’s casinos and the neighborhoods to be strengthened.
Eligible applicants include Philadelphia-based community and economic development organizations, redevelopment authorities, business improvement districts, not-for-profit organizations, the city or school districts, Farnese noted.
Farnese said that community meetings are being planned to help spur interest and discuss details about the uses of the fund and eligibility. He encouraged those who are interested to contact his office for more information.
Information on where to send the applications is also available through the Pennsylvania Department of Economic Development at https://dced.pa.gov/download/local-share-account-lsa-philadelphia/?wpdmdl=87510.