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Farnese: State Funding for Fairmount Park Project and Yards Brewing Relocation
On October 24, 2016
Harrisburg – October 24, 2016 – A $180,000 grant to create a connecting trail to the Schuylkill River Trail in East Fairmount Park and a $2.5 million loan to help with the relocation and expansion of Yards Brewing was approved by the Commonwealth Financing Authority (CFA), State Sen. Larry Farnese (D-Philadelphia) said today.
“The new funds will create a trail that connects neighborhoods to the Schuylkill River Trail in addition to opening up the Mander Recreation Area,” Farnese said. “This investment will improve access to our natural resources and generate more recreational activities for residents of the neighborhoods.
“Improved recreation is a key aspect of community development and I am pleased that these funds were approved.”
The Fairmount Park Conservancy plans to use the grant funds to connect Philadelphia’s Strawberry Mansion neighborhood to the Schuylkill River Trail in East Fairmount Park.
Phase I plans for the project include the construction of a trailhead, plaza and an outdoor classroom at the Mander Recreation Area. The project also includes seating areas, native plantings and interpretive signage along the Boxers’ Trail and Randolph Creek.
The CFA also approved a $2.5 million loan to aid the relocation and expansion of Yards Brewing. The brewer has outgrown its current location and sales are expected to substantially increase. The funding will allow the craft brewer to move to a larger facility and purchase new equipment. This project is expected to create 70 additional jobs.
“Creating an environment where our businesses have not only the ability to be successful, but to also grow and remain in Pennsylvania, is why these loans are crucial,” Farnese said. “This is an excellent project which assists a high-quality company as it builds business activity and continues its development.”
The CFA is an independent state agency responsible for administering Pennsylvania’s economic stimulus packages including Multimodal Transportation Funds, Greenways, Trails and Recreation funds and Act 13 programs.