Rep. John Schlegel (R-Lebanon) announced today that the Commonwealth Financing Authority (CFA) has approved over $2 million in funding for the redevelopment of the Lebanon Steel Works site along Lincoln Avenue. The funding is allocated on behalf of Second Sail Development, LLC.
The CFA, an independent agency within the Pennsylvania Department of Community and Economic Development, manages fiduciary responsibilities for programs and investments aimed at fostering economic growth in Pennsylvania. It has approved a Business in Our Sites grant of approximately $632,000 and a low-interest loan of $1.7 million for the Lebanon Steel Works Creative Community Development project.
“The reclamation and restoration of this historic industrial site will help to promote business development and economic growth in our area,” said Schlegel. “The brick and timber structure has been largely unused for many years. The CFA funding will enable the developer to clean up asbestos and lead paint and help restore the building to productive use. In addition to the many new businesses and jobs this project will generate, it will also produce much-needed tax revenue.”
Representative John Schlegel
101st Legislative District
Pennsylvania House of Representatives
Media Contact: Donna Pinkham
717.260.6452
dpinkham@pahousegop.com
RepSchlegel.com / Facebook.com/RepSchlegel
