PHILADELPHIA (Sept. 10, 2014) – State Sen. Larry Farnese (D-Phila.) today announced more than $4 million in Multimodal Transportation Fund and Alternative and Clean Energy Program Grants for the First Senatorial District of Pennsylvania. The grants, and projects they fund, will improve safety, transportation, the environment, and economic development.

“It’s always nice to see state, city, and private investments coming together to benefit the City of Philadelphia – businesses, citizens, and visitors alike,” said Farnese. “Any time we can make our communities safer, improve our waterfront, protect our environment, and make it easier to travel the City it’s a win for everyone. So, congratulations to AIMCO and Park Towne Place, CHOP, DRWC, PREIT Associates, and SFG RC CHP on your grants and let’s all keep investing in Philadelphia’s future.”

The funds are being distributed from the Multimodal Transportation Fund, which is designed to encourage economic development and a safer and more reliable transportation system, and the Alternative and Clean Energy Program, which provides financial assistance for the use, development, and construction of alternative/clean energy initiatives. The projects and their related grants are:

AIMCO/Park Towne Place Associates GP, LLC $1,000,000
Grant source: Commonwealth Financing Authority Multimodal Transportation Fund

AIMCO/Park Towne Place Associates GP LLC and the City of Philadelphia are redeveloping Park Town Place, an 18-story residential and retail complex. The grant will fund street and sidewalk repairs, the installation of 23 ADA sidewalks and drive entries, lighting and signage, and the upgrading of shuttle stops along the Benjamin Franklin Parkway and Park Towne Place.

Children’s Hospital of Philadelphia (CHOP) $1,000,000
Grant source:Commonwealth Financing Authority Multimodal Transportation Fund

CHOP will use its grant to help fund the construction of a pedestrian bridge and stairway to link its main campus to the Schuylkill Banks/River Trail. CHOP employees, commuters, business owners and the general public will benefit from the new construction because it will provide a new, safe crossing over an active rail line.

Delaware River Waterfront Corporation (DRWC) $800,000
Grant source:Commonwealth Financing Authority Multimodal Transportation Fund

With the help of the grant, the DRWC will improve the intersection of Spring Garden Street and I-95, the location of the SEPTA Market-Frankfort Line’s Spring Garden subway and bus lines. In addition to strengthening the link between the station and the waterfront, the project calls for the installation of high impact lighting, streetscaping and bike parking.

PREIT Associates, LP $1,059,500
Grant source: Commonwealth Financing Authority Multimodal Transportation Fund

The Pennsylvania Real Estate Investment Trust (PREIT) will use its grant to renovate the entrances and exits along 9th and 10th streets, between Market and Filbert, at the Gallery Mall. Specifically, the funds will make the area safer and more accessible with improved lighting, streetscapes and signage.

SFG RC CHP LLC $150,000
Grant source:Commonwealth Financing Authority Alternative and Clean Energy Program

The grant will help fund the purchase and installation of a 225 kW combined heat and power plant (CHP) at the Rittenhouse Claridge Building. Once the CHP system is operational, the 26-story apartment building, with 472 rental units, will reduce its carbon footprint by offsetting 11,708 MMBTu of boiler fuel to provide 80 percent of the building’s hot water and heating costs. The SFG RC CHP LLC is a special purpose entity that was created to own and operate the Rittenhouse Claridge Building’s CHP system.

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Sen. Larry Farnese was elected to the Senate in 2008 to represent Pennsylvania’s First Senatorial District which contains some of Philadelphia’s most unique and vibrant neighborhoods from Port Richmond on the Delaware River to Fairmount Park on the Schuylkill River and South Philadelphia, Center City, the Navy Yard, Philadelphia International Airport. Senator Farnese serves as the Democratic Chair of the Communications and Technology Committee. He is also a member of the Appropriations Committee, Banking and Insurance Committee, and the Judiciary Committee. His District Office is located at 1802 S. Broad Street in Philadelphia, PA (ph: 215-952-3121) and his Harrisburg Office is located at 543 Main Capitol in Harrisburg, PA (ph: 717-787-5662). More information about the Senator and his initiatives is available at www.senatorfarnese.com.

Contact: Cameron Kline
Phone: 215-952-3121
Email: ckline@pasenate.com

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