Rep. John Schlegel has announced that the Commonwealth Financing Authority (CFA) has approved over $2 million in funding for the redevelopment of the Lebanon Steel Works site. The funds, awarded to Second Sail Development, LLC, include a Business in Our Sites grant of approximately $632,000 and a low-interest loan of $1.7 million.
The CFA is an independent agency within the Pennsylvania Department of Community and Economic Development responsible for overseeing programs and investments aimed at economic growth in Pennsylvania. The Lebanon Steel Works Creative Community Development project will benefit from this financial support.
Schlegel emphasized the significance of revitalizing the historic industrial site: “The reclamation and restoration of this historic industrial site will help to promote business development and economic growth in our area.” He noted that the site’s brick and timber structure has been mostly unused for years, adding that “the CFA funding will enable the developer to clean up asbestos and lead paint and help restore the building to productive use.”
He also highlighted potential benefits such as new businesses, job creation, and increased tax revenue resulting from this project.
