Hohenstein announces $4.5 million in redevelopment grants for four area organizations, including for conversion of Old Port Richmond Power Plant to commercial/entertainment destination
HARRISBURG, Dec. 7 – State Rep. Joe Hohenstein today announced $4.5 million in grant funding for four area organizations, including $1 million to assist in converting the Old Port Richmond Power Plant into a commercial/entertainment destination.
“These grant funds will go far in helping our community in several ways,” Hohenstein said. “The grant award for Frankel Management Company to convert Old Port Richmond Power Plant into a commercial and entertainment destination is fantastic for the city of Philadelphia, which will see a positive impact in the local economy as a result of this project because it’s going to add jobs and drive revenue.
“I have been a supporter of the Old Port Richmond Power Plant project and wrote a letter of support back in March for the project to receive grant funding because I believe in its potential to have a tremendous positive impact,” Hohenstein added. “And the other grant awards in our district are sure to have a positive impact, as well.”
The three other projects receiving funding in Hohenstein’s legislative district are:
- $1.5 million for Jacquin’s distillery, which is Pennsylvania’s oldest distillery.
- $1 million for the Arsenal.
- $1 million for Trinity Police Athletic League, which encompasses a police athletic league in Hohenstein’s district on Clearfield Street.
The funding for these projects was awarded through the Redevelopment Assistance Capital Program, which is a grant program administered by the Office of the Budget for the acquisition and construction of regional economic, cultural, civic, recreational and historical improvement projects.
RACP projects are authorized in the Redevelopment Assistance section of a Capital Budget Itemization Act, have a regional or multi-jurisdictional impact, and generate substantial increases or maintain current levels of employment, tax revenue or other measures of economic activity.