Commonwealth Financing Authority Seeks Feedback on New Mixed-Use Revitalization Program

From Pennsylvania Department of Community & Economic Development

Photo courtesy of Andrew Neel on Unsplash

On Monday, March 3, Department of Community and Economic Development (DCED) Secretary Rick Siger announced that the Commonwealth Financing Authority (CFA) is seeking public input for the new Mixed-Use Revitalization Program, which will provide grants and loans to boost mixed-use development across Pennsylvania.

The CFA is seeking feedback on the program’s draft guidelines from commercial or mixed-use developers. The public comment form and draft guidelines are available now through March 5.

Governor Josh Shapiro and his Administration are focused on strengthening communities and spurring economic development across the Commonwealth. Governor Shapiro’s proposed 2025-26 budget is a unified vision for Pennsylvania’s future and is focused on economic growth, job creation, housing development, and regional collaboration.

“Strong communities mean a strong economy, and we welcome feedback for the Mixed-Use Revitalization Program,” said Secretary Siger. “Economic development is a team sport, and input from the public will ensure this program has meaningful impact across our Commonwealth.”

Feedback submitted by community members will help DCED focus and finalize the development of the Mixed-Used Revitalization Program, which was established under Act No. 54 of 2024 and is administered through the CFA.

The program provides grants and loans to assist with increasing mixed-use development across the Commonwealth, leveraging private and public resources, and fostering sustainable partnerships committed to addressing community needs. When the program is finalized, developers will be able to apply for either a grant or a loan for eligible projects.

Mixed-Use Redevelopment Projects are community revitalization projects that promote economic growth and include commercial assets. Projects may also include residential development opportunities. Examples include but are not limited to existing and former malls and similar commercial properties.

Eligible projects must:

• Be situated on at least 15 acres of land.
• Contain at least 200,000 square feet of proposed development that has not received a certificate of occupancy as of July 11, 2024.
• Be zoned for the planned end use.

The CFA was established in 2004 as an independent agency to administer Pennsylvania’s economic stimulus packages. The CFA holds fiduciary responsibility over the funding of programs and investments in Pennsylvania’s economic growth.

Visit the Commonwealth Financing Authority’s website for more information on the CFA or its programs.

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Source: bctv