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PA Bulletin, Doc. No. 96-1725



Maximum Loan Amounts and Participation and Interest Rates

[26 Pa.B. 4958]

   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 July 3, 1996, are effective as of that date, except as provided below, and will remain in effect until changed by a notice in the Pennsylvania Bulletin. The rates follow as Annex A.

   Exceptions: (1) Projects located in any county or municipality in which the interest rate has increased or the participation rate has decreased will not be subject to the new rates until October 2, 1996.

   (2)  If the county's 5-year unemployment rate (average of the highest 5 of the last 10 years) is three percentage points or more than the 1995 unemployment rate, the 5-year unemployment rate will be used to determine the PIDA interest rate. This exception affects only the counties of Beaver, Fulton and Mercer resulting in a 3.75% interest rate.

   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.


Annex A

PIDA Participation and Interest Rates for Counties and Municipalities* Over 25,000 Population

Counties and MunicipalitiesMaximum PIDA ParticipationInterest Rate**
(S)   %   (L)
ADAMS40***   30****6.75
ALLEGHENY40***   40***6.75
   McKeesport City40   403.75
   Pittsburgh City40   40***5.25
ARMSTRONG40   403.75
BEAVER40   40***3.75
BEDFORD40   403.75
BERKS40***   40***6.75
Reading City40   40***5.25
BLAIR40   40***5.25
BRADFORD40   40***5.25
BUCKS40***   40***6.75
   Bensalem Twp.40***   40***5.25
   Bristol Twp.40   40***5.25
BUTLER40***   40***5.25
CAMBRIA 40   403.75
CAMERON40   40***5.25
CARBON40   40***3.75
CENTRE30****   30****6.75
CHESTER40***   30****6.75
CLARION40   403.75
CLEARFIELD40   403.75
CLINTON40   403.75
COLUMBIA40   40***5.25
CRAWFORD40   40***5.25
CUMBERLAND30****   30****6.75
DAUPHIN40***   30****6.75
   Harrisburg40***   30****5.25
DELAWARE40***   30****5.25
   Chester City40   403.75
ELK40***   40***5.25
ERIE40   40***5.25
   Erie City40   403.75
FAYETTE40   403.75
FOREST40   403.75
FRANKLIN40***   30****6.75
FULTON40***   40***3.75
GREENE40   403.75
HUNTINGDON40   403.75
INDIANA40   403.75
JEFFERSON40   40***3.75
JUNIATA40   403.75
LACKAWANNA40   40***5.25
LANCASTER 30****   30****6.75
   Lancaster City40***   30****5.25
LAWRENCE40   40***5.25
   New Castle City40   403.75
LEBANON40***   30****6.75
   Lebanon City40***   30****5.25
LEHIGH40***   40***6.75
   Allentown40   40***5.25
LUZERNE40   40***3.75
LYCOMING40   40***5.25
   Williamsport City40   403.75
MCKEAN40   40***5.25
MERCER40***   40***3.75
MIFFLIN40   40***5.25
MONROE40   40***5.25
MONTGOMERY40***   30****6.75
   Norristown Boro.40   30****5.25
   Upper Dublin Twp.40***   30****5.25
MONTOUR30****   30****6.75
NORTHAMPTON40***   40***6.75
   Easton City40   40***5.25
NORTHUMBERLAND40   40***5.25
PERRY40***   40***6.75
PHILADELPHIA40   40***3.75
PIKE40   40***5.25
POTTER40   40***5.25
SCHUYLKILL40   40***3.75
SNYDER40***   40***6.75
SOMERSET40   403.75
SULLIVAN40   40***5.25
SUSQUEHANNA40   40***5.25
TIOGA40   40***5.25
UNION40***   40***6.75
VENANGO40   40***5.25
WARREN40***   40***6.75
WASHINGTON40   40***5.25
WAYNE40   403.75
WESTMORELAND40   40***5.25
WYOMING40   40***5.25
YORK40***   30****6.75
   York City40   30****5.25

*Municipalities are listed only if PIDA rate differs from County rate.

**Based on calendar year 1995 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 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 Fallowfield Twp. Roscoe
Belle Vernon Fayette City Rostraver Twp.
Bentleyville Finleyville Smithton
Brownsville Forward Twp.* Speers
Brownsville Twp. Jefferson Twp. Stockdale
California Long Branch Twilight
Carroll Twp. Monessen Union Twp.
Charleroi Monongahela Washington Twp.
Coal Center New Eagle West Brownsville
Donora Newell West Newton
Dunlevy North Belle Vernon West Pike Run Twp.
Elco North Charleroi

LOWER MON VALLEY (Allegheny County)

PIDA Participation:  40%--Small Business
40%--Large Business
Interest Rate:          5.25%

Braddock Homestead South Versailles Twp.
Braddock Hills Jefferson Swissvale
Chalfant Liberty Trafford
Clairton Lincoln Turtle Creek
Dravosburg McKeesport Versailles
Duquesne Monroeville Wall
East McKeesport Munhall West Elizabeth
East Pittsburgh North Braddock West Homestead
Elizabeth North Versailles Twp. West Mifflin
Elizabeth Twp. Pitcairn Whitaker
Forest Hills Pittsburgh White Oak
Forward Twp.* Port Vue Wilkins Twp.
Glassport Ranklin Wilmerding

SHENANGO RIVER VALLEY (Lawrence and Mercer Counties)

PIDA Participation:  40%--Small Business
40%--Large Business
Interest Rate:          5.25%

ClarkJefferson Twp. Shenango Twp.
Delaware Twp. Mahoning Twp. South Pymatuning Twp.
Farrell Neshannock Twp. Union Twp.
Greene Twp. New Castle West Middlesex
Greenville Pulaski Twp. West Salem Twp.
Hempfield Pymatuning Twp. Wheatland
Hermitage Sharon
Jamestown Sharpsville

(Note: Any municipality located in Mercer County receives 3.75% interest rate.)

BEAVER VALLEY (Beaver County)

PIDA Participation:  40%--Small Business
40%--Large Business**
Interest Rate:          3.75%

Aliquippa Fallston New Brighton
Ambridge Frankfort Springs New Galilee
Baden Franklin Twp. New Sewickley Twp.
Beaver Freedom North Sewickley Twp.
Beaver Falls Georgetown Ohioville
Big Beaver Glasgow Patterson Heights
Bridgewater Greene Twp. Patterson Twp.
Brighton Twp. Hanover Twp. Potter Twp.
Center Twp. Harmony Twp. Pulaski Twp.
Chippewa Twp. Hookstown Raccoon Twp.
Conway Homewood Rochester
Darlington Hopewell Twp. Rochester Twp.
Darlington Twp. Independence Twp. Shippingport
Daugherty Industry South Beaver Twp.
East Rochester Koppel South Heights
East Vale Marion Twp. Vanport Twp.
Economy Twp. Midland West Mayfield
Ellwood City Monaca White Twp.

MOSHANNON VALLEY (Centre and Clearfield Counties)

PIDA Participation:  40%--Small Business
40%--Large Business
Interest Rate:          3.75%

Beccaria Twp. Bigler Twp. Boggs Twp.
Bradford Twp. Brisbin Bor. Chester Hill Bor.
Coalport Bor. Cooper Twp. Decatur Twp.
Glen Hope Bor. Graham Twp. Gulich Twp.
Houtzdale Bor. Irvona Bor. Jordan Twp.
Knox Twp. Morris Twp. Osceola Mills Bor.
Philipsburg Bor. Ramey Bor. Rush Twp.
South Philipsburg Bor. Wallaceton Bor. Woodward Twp.

*Forward Twp. is eligible for 3.75% interest and 40/40% participation.

**10% Equity required.

[Pa.B. Doc. No. 96-1725. Filed for public inspection October 11, 1996, 9:00 a.m.]

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