BETHLEHEM (November 9, 2021) – State Senator Lisa Boscola announced today that 8 community revitalization projects in the 18th Senatorial District have been approved for $1,707,500 in tax credit funding through the Commonwealth’s Neighborhood Assistance Program.
“The Neighborhood Assistance Program continues to be a key community and economic development tool to assist community revitalization in distressed areas that require financial assistance to make redevelopment projects economically viable and will have a positive impact on revitalizing local communities,” Boscola stated. “The NAP also provides needed assistance for community development programs to improve the quality of life in these neighborhoods.”
The nine projects approved for the tax credits are:
- Community Action Development Corporation of Bethlehem (NPP – $260,000) – Community Programs such as façade replacements, Greenway improvements;
- Triple Net Investments XXXV, LP (EZP – $250,000) – Building Expansion in LVIP 7;
- Mechanic Street Development Associates (EZP – $250,000) – 404 E. Third Street Redevelopment Project;
- Collaboration 3, LLC (EZP – $250,000) – Goodman Building Redevelopment Project;
- 601 Broad Development Group, LP (EZP – $250,000) – Former Laros Silk Mill Redevelopment Project;
- Bowery Farming, Inc. (EZP – $250,000) – Redevelopment of former brownfield site to Vertical Farm site;
- Greater Easton Development Partnership (NPP – $160,000) – West Ward Neighborhood Revitalization Project; and
- Hispanic Center Lehigh Valley (SPP – $37,500) – COVID-19 Recovery Efforts.
Administered through the PA Department of Community and Economic Development, the goals of the Neighborhood Assistance Program are to promote community participation and collaborations among nonprofits, businesses and residents while producing outcomes which assist a distressed area or the low-income population in a neighborhood.
The program has five main components: The Neighborhood Assistance Program (NAP), Special Program Priorities (SPP), the Neighborhood Partnership Program (NPP), the Charitable Food Program (CFP), and the Enterprise Zone Program (EZP).