606 Maximum loan amounts and participation and interest rates

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, [phone].

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    Pittsburgh	40 40 40	40*** 40 40***	6.75 3.75 5.25
ARMSTRONG	40	40	3.75
BEAVER	40	40***	5.25
BEDFORD	40	40	3.75
BERKS    Reading City	40*** 40	40*** 40***	6.75 5.25
BLAIR	40	40***	5.25
BRADFORD	40	40***	5.25
BUCKS    Bristol Twp.	40*** 40	40*** 40***	6.75 5.25
BUTLER	40	40***	5.25
CAMBRIA    Johnstown City	40 40	40 40	3.75 3.75
CAMERON	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 City	40*** 40	30**** 40	6.75 3.75
ELK	40***	40***	6.75
ERIE    Erie City	40 40	40*** 40	5.25 3.75
FAYETTE	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 City	40*** 40	30**** 30****	6.75 5.25
LAWRENCE	40	40	3.75
LEBANON    Lebanon City	40*** 40	40*** 40***	6.75 5.25
LEHIGH	40	40***	5.25
LUZERNE	40	40***	5.25
LYCOMING    Williamsport	40 40	40*** 40	5.25 3.75
MCKEAN	40	40***	5.25
MERCER	40	40***	5.25
MIFFLIN	40	40***	5.25
MONROE	40	40***	5.25
MONTGOMERY    Norristown	40*** 40	30**** 40	6.75 3.75
MONTOUR	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 City	40*** 40	40*** 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.]