NOTICES
PENNSYLVANIA INDUSTRIAL DEVELOPMENT AUTHORITY
Maximum Loan Amounts and Participation and Interest Rates
[26 Pa.B. 1772] The Pennsylvania Industrial Development Authority (PIDA) gives notice of the adoption of maximum PIDA loan amounts and PIDA participation and interest rates for loans approved by the PIDA Board of Directors. The maximum PIDA loan amounts and rates were adopted by the PIDA Board of Directors at its meeting held March 8, 1996, are effective as of that date, and will remain in effect until changed by a notice in the Pennsylvania Buletin. The PIDA loan ceiling has been reduced from $2,000,000 to $1,000,000. The rates are following this Notice under Annex A.
The PIDA Board retains the right to waive or modify the rates, to the extent that such are not mandated by law, on a case by case basis for good cause shown.
Further information can be obtained from The Pennsylvania Industrial Development Authority, Room 481, Forum Building, Harrisburg, PA 17120, (717) 787-6245.
THOMAS B. HAGEN,
Chairperson
Annex A
PIDA PARTICIPATION AND INTEREST RATES FOR COUNTIES AND MUNICIPALITIES*
OVER 25,000 POPULATION
Counties and Municipalities Maximum PIDA Participation Interest Rate** (S) % (L) ADAMS 40*** 40*** 6.75 ALLEGHENY
McKeesport City
Pittsburgh40
40
4040***
40
40***6.75
3.75
5.25ARMSTRONG 40 40 3.75 BEAVER 40 40*** 5.25 BEDFORD 40 40 3.75 BERKS
Reading City40***
4040***
40***6.75
5.25BLAIR 40 40*** 5.25 BRADFORD 40 40*** 5.25 BUCKS
Bristol Twp.40***
4040***
40***6.75
5.25BUTLER 40 40*** 5.25 CAMBRIA
Johnstown City40
4040
403.75
3.75CAMERON 40 40*** 5.25 CARBON 40 40 3.75 CENTRE 40*** 30**** 6.75 CHESTER 30**** 30**** 6.75 CLARION 40 40 3.75 CLEARFIELD 40 40 3.75 CLINTON 40 40 3.75 COLUMBIA 40 40*** 5.25 CRAWFORD 40 40*** 5.25 CUMBERLAND 30**** 30**** 6.75 DAUPHIN
40*** 30**** 6.75 Harrisburg 40 30**** 5.25 DELAWARE
Chester City40***
4030****
406.75
3.75ELK 40*** 40*** 6.75 ERIE
Erie City40
4040***
405.25
3.75FAYETTE 40 40 3.75 FOREST 40 40 3.75 FRANKLIN 40*** 40*** 6.75 FULTON 40 40 3.75 GREENE 40 40 3.75 HUNTINGDON 40 40 3.75 INDIANA 40 40 3.75 JEFFERSON 40 40*** 5.25 JUNIATA 40 40 3.75 LACKAWANNA 40 40*** 5.25 LANCASTER
Lancaster City40***
4030****
30****6.75
5.25LAWRENCE 40 40 3.75 LEBANON
Lebanon City40***
4040***
40***6.75
5.25LEHIGH 40 40*** 5.25 LUZERNE 40 40*** 5.25 LYCOMING
Williamsport40
4040***
405.25
3.75MCKEAN 40 40*** 5.25 MERCER 40 40*** 5.25 MIFFLIN 40 40*** 5.25 MONROE 40 40*** 5.25 MONTGOMERY
Norristown40***
4030****
406.75
3.75MONTOUR 40*** 40*** 6.75 NORTHAMPTON 40 40*** 5.25 NORTHUMBERLAND 40 40 3.75 PERRY 40*** 40*** 6.75 PHILADELPHIA 40 40*** 5.25 PIKE 40 40*** 5.25 POTTER 40 40*** 5.25 SCHUYLKILL 40 40 3.75 SNYDER 40*** 40*** 6.75 SOMERSET 40 40 3.75 SULLIVAN 40 40*** 5.25 SUSQUEHANNA 40 40*** 5.25 TIOGA 40 40*** 5.25 UNION 40*** 40*** 6.75 VENANGO 40 40 3.75 WARREN 40*** 40*** 6.75 WASHINGTON 40 40*** 5.25 WAYNE 40 40 3.75 WESTMORELAND 40 40*** 5.25 WYOMING 40 40*** 5.25 YORK
York City40***
4040***
40***6.75
5.25* Municipalities are listed only if PIDA rate differs from County rate.
** Based on calendar year 1994 unemployment rate. Subject to change at discretion of PIDA Board.
(S) Small Business (less than 50 existing employes, including parent, subsidiaries and affiliates.)
(L) Large Business.
Special Note: Projects located in designated enterprise zones, planning stage enterprise zones, industrial communities receiving assistance under the Dept. of Commerce's Industrial Communities Site Program, and financially distressed municipalities under Act 47 will receive loans at 3.75%. Companies designated as advanced tech firms will receive an interest rate 1% less than the area rate with a floor of 3.75%.
*** 10% Equity required.
**** 20% Equity required.
MID MON VALLEY (Fayette, Washington and Westmoreland Counties) PIDA Participation: 40%--Small Business
40%--Large Business
Interest Rate: 3.75%Allenport
Belle Vernon
Bentleyville
Brownsville
Brownsville Twp.
California
Carroll Twp.
Charleroi
Coal Center
Donora
Dunlevy
Elco
Fallowfield Twp.
Fayette City
Finleyville
Forward Twp.*
Jefferson Twp.
Long Branch
Monessen
Monongahela
New Eagle
Newell
North Belle Vernon
North Charleroi
Roscoe
Rostraver Twp.
Smithton
Speers
Stockdale
Twilight
Union Twp.
Washington Twp.
West Brownsville
West Newton
West Pike Run Twp.
LOWER MON VALLEY (Allegheny County) PIDA Participation: 40%--Small Business
40%--Large Business
Interest Rate: 5.25% Braddock
Braddock Hills
Chalfant
Clairton
Dravosburg
Duquesne
East McKeesport
East Pittsburgh
Elizabeth
Elizabeth Twp.
Forest Hills
Forward Twp.*
Glassport
Homestead
Jefferson
Liberty
Lincoln
McKeesport
Monroeville
Munhall
North Braddock
North Versailles Twp.
Pitcairn
Pittsburgh
Port Vue
Ranklin
South Versailles Twp.
Swissvale
Trafford
Turtle Creek
Versailles
Wall
West Elizabeth
West Homestead
West Mifflin
Whitaker
White Oak
Wilkins Twp.
Wilmerding
SHENANGO RIVER VALLEY (Lawrence and Mercer Counties) PIDA Participation: 40%--Small Business
40%--Large Business
Interest Rate: 5.25% Clark
Delaware Twp.
Farrell
Greene Twp.
Greenville
Hempfield
Hermitage
Jamestown
Jefferson Twp.
Mahoning Twp.
Neshannock Twp.
New Castle
Pulaski Twp.
Pymatuning Twp.
Sharon
Sharpsville
Shenango Twp.
South Pymatuning Twp.
Union Twp.
West Middlesex
West Salem Twp.
Wheatland
BEAVER VALLEY (Beaver County) PIDA Participation: Unchanged (40%/40%**)
Interest Rate:Unchanged (5.25%)Aliquippa
Ambridge
Baden
Beaver
Beaver Falls
Big Beaver
Bridgewater
Brighton Twp.
Center Twp.
Chippewa Twp.
Conway
Darlington
Darlington Twp.
Daugherty
East Rochester
East Vale
Economy Twp.
Ellwood City
Fallston
Frankfort Springs
Franklin Twp.
Freedom
Georgetown
Glasgow
Greene Twp.
Hanover Twp.
Harmony Twp.
Hookstown
Homewood
Hopewell Twp.
Independence Twp.
Industry
Koppel
Marion Twp.
Midland
Monaca
New Brighton
New Galilee
New Sewickley Twp.
North Sewickley Twp.
Ohioville
Patterson Heights
Patterson Twp.
Potter Twp.
Pulaski Twp.
Raccoon Twp.
Rochester
Rochester Twp.
Shippingport
South Beaver Twp.
South Heights
Vanport Twp.
West Mayfield
White Twp.
MOSHANNON VALLEY (Centre and Clearfield Counties) PIDA Participation: 40%--Small Business
40%--Large Business
Interest Rate:3.75% Beccaria Twp.
Bradford Twp.
Coalport Bor.
Glen Hope Bor.
Houtzdale Bor.
Knox Twp.
Philipsburg Bor.
South Philipsburg Bor.
Bigler Twp.
Brisbin Bor.
Cooper Twp.
Graham Twp.
Irvona Bor.
Morris Twp.
Ramey Bor.
Wallaceton Bor.
Boggs Twp.
Chester Hill Bor.
Decatur Twp.
Gulich Twp.
Jordan Twp.
Osceola Mills Bor.
Rush Twp.
Woodward Twp.* Forward Twp. is eligible for 3.75% interest and 40/40% participation.
** 10% Equity required.
[Pa.B. Doc. No. 96-606. Filed for public inspection April 12, 1996, 9:00 a.m.]
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