1916 Interest rates and participation rates

PENNSYLVANIA INDUSTRIAL DEVELOPMENT AUTHORITY

Interest Rates and Participation Rates

[38 Pa.B. 5822]
[Saturday, October 18, 2008]

   The Pennsylvania Industrial Development Authority (PIDA) gives notice of the change in the interest rate for loans approved by the PIDA Board of Directors. Loan applications approved by PIDA beginning at its October 2008, board meeting and until further notice will receive an interest rate of 3.00%. The schedule of participation rates and the interest rate effective in each county is as follows to this Notice as Annex A.

   The PIDA Board retains the right to waive or modify the interest rates on a case by case basis for good cause shown.

   Further information can be obtained from the Pennsylvania Industrial Development Authority, Commonwealth Keystone Building, 400 North Street, 4th Floor, Harrisburg, PA 17120, [phone].

DENNIS YABLONSKY,   
Chairperson

PIDA
PIDA Participation and Interest Rates
for Counties And Municipalities*
Over 25,000 Population
Effective October 2008 and forward
(until further notice)

	Maximum PIDA Participation		Interest Rate**
	(S)	(L)	%
ADAMS	30 * * * *	30 * * * *	3.00
ALLEGHENY	40 * * *	30 * * * *	3.00
ARMSTRONG	40 * * *	40 * * *	3.00
BEAVER	40 * * *	30 * * * *	3.00
BEDFORD	40 * * *	40 * * *	3.00
BERKS	40 * * *	30 * * * *	3.00
Reading City	50	30 * * * *	3.00
BLAIR	40 * * *	40 * * *	3.00
BRADFORD	40 * * *	30 * * * *	3.00
BUCKS	40 * * *	30 * * * *	3.00
BUTLER	40 * * *	30 * * * *	3.00
CAMBRIA	40 * * *	40 * * *	3.00
Johnstown City	50	40 * * *	3.00
CAMERON	40 * * *	40 * * *	3.00
CARBON	40 * * *	40 * * *	3.00
CENTRE	40 * * *	40 * * *	3.00
CHESTER	30 * * * *	30 * * * *	3.00
CLARION	40 * * *	40 * * *	3.00
CLEARFIELD	40 * * *	40 * * *	3.00
Clearfield Borough	60	50	3.00
CLINTON	40 * * *	40 * * *	3.00
COLUMBIA	40 * * *	40 * * *	3.00
CRAWFORD	40 * * *	40 * * *	3.00
CUMBERLAND	30 * * * *	30 * * * *	3.00
DAUPHIN	40 * * *	30 * * * *	3.00
DELAWARE	40 * * *	30 * * * *	3.00
Chester City	50	30 * * * *	3.00
ELK	40 * * *	40 * * *	3.00
ERIE	40 * * *	40 * * *	3.00
FAYETTE	40 * * *	40 * * *	3.00
FOREST	50	40 * * *	3.00
FRANKLIN	40 * * *	30 * * * *	3.00
FULTON	40 * * *	30 * * * *	3.00
GREENE	40 * * *	40 * * *	3.00
HUNTINGDON	40 * * *	40 * * *	3.00
INDIANA	40 * * *	40 * * *	3.00
JEFFERSON	40 * * *	40 * * *	3.00
JUNIATA	40 * * *	30 * * * *	3.00
LACKAWANNA	40 * * *	30 * * * *	3.00
LANCASTER	30 * * * *	30 * * * *	3.00
Lancaster City	40 * * *	30 * * * *	3.00
LAWRENCE	40 * * *	40 * * *	3.00
New Castle City	50	40 * * *	3.00
LEBANON	40 * * *	30 * * * *	3.00
LEHIGH	40 * * *	30 * * * *	3.00
LUZERNE	40 * * *	40 * * *	3.00
Hazleton City	50	40 * * *	3.00
LYCOMING	40 * * *	30 * * * *	3.00
MCKEAN	40 * * *	40 * * *	3.00
MERCER	40 * * *	40 * * *	3.00
Sharon City	50	40 * * *	3.00
MIFFLIN	40 * * *	40 * * *	3.00
MONROE	40 * * *	30 * * * *	3.00
MONTGOMERY	40 * * *	30 * * * *	3.00
MONTOUR	40 * * *	30 * * * *	3.00
NORTHAMPTON	40 * * *	30 * * * *	3.00
NORTHUMBERLAND	40 * * *	40 * * *	3.00
PERRY	40 * * *	30 * * * *	3.00
PHILADELPHIA	50	40 * * *	3.00
PIKE	40 * * *	30 * * * *	3.00
POTTER	50	40 * * *	3.00
SCHUYLKILL	40 * * *	40 * * *	3.00
SNYDER	40 * * *	30 * * * *	3.00
SOMERSET	40 * * *	40 * * *	3.00
SULLIVAN	40 * * *	40 * * *	3.00
SUSQUEHANNA	40 * * *	30 * * * *	3.00
TIOGA	40 * * *	40 * * *	3.00
UNION	40 * * *	30 * * * *	3.00
VENANGO	40 * * *	40 * * *	3.00
WARREN	40 * * *	40 * * *	3.00
WASHINGTON	40 * * *	40 * * *	3.00
WAYNE	40 * * *	30 * * * *	3.00
WESTMORELAND	40 * * *	40 * * *	3.00
WYOMING	40 * * *	40 * * *	3.00
YORK	30 * * * *	30 * * * *	3.00
York City	50	30 * * * *	3.00

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

* *  Based on calendar year 2007 unemployment rate. Subject to change at discretion of the PIDA Board.

(S)  Small Business (Less than 50 existing employees, including parent, subsidiaries and affiliates.)

(L)  Large Business.

Special Note: Projects located in Designated Enterprise Zones, Financially Distressed Municipalities under Act 47 (Over), Federal Empowerment Zones, Federal Enterprise Communities, Keystone Opportunity Zones, Keystone Opportunity Expansion Zones, Keystone Opportunity Improvement Zones, Keystone Innovation Zones, Brownfield Sites and Companies Designated as Advanced Tech Firms will receive an interest rate of 3%.

Also, projects located in Keystone Innovation Zones are eligible to receive participation rates of up to 75% at the discretion of the PIDA Board.

* * * 10% Equity required

* * * * 20% Equity required

[Pa.B. Doc. No. 08-1916. Filed for public inspection October 17, 2008, 9:00 a.m.]