Salisbury: More than $1 million in tax credits awarded to support community projects
BRADDOCK, Nov. 21 – Residents and businesses in the 34th Legislative District will benefit from more than $1 million in new tax credits awarded to support affordable housing, community revitalization and human services programs, state Rep. Abigail Salisbury announced today.
Salisbury, D-Allegheny, said the tax credits – awarded through the Department of Community and Economic Development’s Neighborhood Assistance Program – will leverage investments to bolster the work of area nonprofit organizations.
“Our district’s charitable nonprofits are constantly working to improve quality of life for residents, but they can’t do it alone,” Salisbury said. “Fortunately, tax credits can be a powerful tool to spur new investments. The newly awarded tax credits are going to boost key projects to fight blight and attract new businesses, expand affordable housing, and continue treatment programs and related services for residents.”
Salisbury said the funding includes:
- $400,000 in tax credits to Wilkinsburg Community Development Corp. to supports efforts to strengthen the Central Business District, improve quality of life for residents, continue attracting new homeowners and businesses, and improve the borough’s fiscal health and sustainability.
- $265,875 in tax credits to Enterprise Zone Corp. of Braddock to support projects to fight blight, continue neighborhood development, attract and assist new tech firms, and access capital for area businesses. Working with partners, EZCB plans to create 30 jobs, retain 100 employees, demolish 12-14 structures, acquire vacant land, and renovate two to three commercial structures.
- $165,000 in tax credits to POWER, which is purchasing a building in Swissvale to consolidate drug and alcohol treatment services for women in recovery along with child care, health care, workforce development and other support. The organization plans to serve at least 1,600 women annually.
- $160,000 in tax credits to Mon Valley Initiative to expand affordable housing, including completion of the Braddock Church Residences’ mixed-income apartments, and continue programs and services at the Braddock Carnegie Library. The project is expected to help more than 3,800 low-income residents.
- $52,500 to Hosanna House Inc., to support a project to help build wealth for low- and moderate-income residents and avoid displacement of existing renters who would be Wilkinsburg homebuyers. The project entails the purchase, repair and sale of two to three properties, which will reduce housing costs by supporting a larger downpayment ability of first-time buyers to avoid private mortgage insurance.
In addition, more than $1.3 million in tax credits was awarded to Greater Pittsburgh Community Food Bank, which distributes food to residents in Allegheny County and 10 other counties.
More information about the funding is available here: https://dced.pa.gov/newsroom/shapiro-administration-approves-36-million-in-tax-credits-to-businesses-encouraging-them-to-contribute-to-local-nonprofit-organizations-strengthening-neighborhoods-and-communities-across-the-common/.