PENNSYLVANIA INDUSTRIAL DEVELOPMENT AUTHORITY Participation and Interest Rates [34 Pa.B. 4341] The Pennsylvania Industrial Development Authority (PIDA) gives notice of the adoption of PIDA participation and interest rates for loans approved by the PIDA Board of Directors (Board). The following rates, which were adopted by the PIDA Board at its meeting on July 7, 2004, are effective for loans approved at the September PIDA Board meeting and will remain in effect until changed by a notice in the Pennsylvania Bulletin.
The PIDA Board retains the right to waive or modify the rates, to the extent the rates 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, Commonwealth Keystone Building, 400 North Street, 4th Floor, Harrisburg, PA 17120, (717) 787-6245.
DENNIS YABLONSKY,
ChairpersonPIDA Participation and Interest Rates
for Counties and Municipalities*
over 25,000 PopulationEffective September 2004 Maximum PIDA Interest Participation Rate** (S) (L) % ADAMS 40 * * * 30 * * * * 4.00 ALLEGHENY 40 * * * 30 * * * * 4.00 McKeesport City 60 50 3.00 West Mifflin Borough 40 * * * 30 * * * * 3.00 ARMSTRONG 50 40 * * * 3.00 BEAVER 50 40 * * * 3.00 BEDFORD 60 50 3.00 BERKS 50 30 * * * * 3.00 Reading City 60 50 3.00 BLAIR 40 * * * 40 * * * 4.00 BRADFORD 40 * * * 30 * * * * 3.00 BUCKS 40 * * * 30 * * * * 4.00 BUTLER 40 * * * 30 * * * * 4.00 CAMBRIA 50 40 * * * 3.00 Johnstown City 60 50 3.00 CAMERON 50 40 * * * 3.00 CARBON 60 50 3.00 CENTRE 40 * * * 30 * * * * 4.00 CHESTER 30 * * * * 30 * * * * 4.00 CLARION 40 * * * 40 * * * 4.00 CLEARFIELD 60 50 3.00 CLINTON 50 40 * * * 3.00 COLUMBIA 50 40 * * * 3.00 CRAWFORD 50 40 * * * 3.00 CUMBERLAND 40 * * * 30 * * * * 4.00 DAUPHIN 40 * * * 30 * * * * 4.00 Harrisburg City 50 30 * * * * 3.00 DELAWARE 40 * * * 30 * * * * 4.00 Chester City 60 50 3.00 ELK 50 40 * * * 3.00 ERIE 50 40 * * * 3.00 FAYETTE 60 50 3.00 FOREST 70 60 3.00 FRANKLIN 40 * * * 30 * * * * 4.00 FULTON 50 40 * * * 3.00 GREENE 50 40 * * * 3.00 HUNTINGDON 60 50 3.00 INDIANA 50 40 * * * 3.00 JEFFERSON 50 40 * * * 3.00 JUNIATA 40 * * * 40 * * * 4.00 LACKAWANNA 40 * * * 40 * * * 4.00 LANCASTER 40 * * * 30 * * * * 4.00 Lancaster City 50 30 * * * * 3.00 LAWRENCE 50 40 * * * 3.00 New Castle City 60 50 3.00 LEBANON 30 * * * * 30 * * * * 4.00 Lebanon City 40 * * * 30 * * * * 4.00 LEHIGH 40 * * * 30 * * * * 4.00 Allentown City 50 30 * * * * 3.00 Whitehall Township 50 30 * * * * 3.00 LUZERNE 50 40 * * * 3.00 LYCOMING 50 40 * * * 3.00 McKEAN 50 40 * * * 3.00 MERCER 40 * * * 30 * * * * 4.00 MIFFLIN 50 40 * * * 3.00 MONROE 50 40 * * * 3.00 MONTGOMERY 40 * * * 30 * * * * 4.00 Norristown Borough 50 30 * * * * 3.00 MONTOUR 40 * * * 30 * * * * 4.00 NORTHAMPTON 40 * * * 30 * * * * 4.00 NORTHUMBERLAND 50 40 * * * 3.00 PERRY 40 * * * 30 * * * * 4.00 PHILADELPHIA 50 40 * * * 3.00 PIKE 40 * * * 30 * * * * 4.00 POTTER 50 40 * * * 3.00 SCHUYLKILL 50 40 * * * 3.00 SNYDER 40 * * * 30 * * * * 4.00 SOMERSET 50 40 * * * 3.00 SULLIVAN 50 40 * * * 3.00 SUSQUEHANNA 50 40 * * * 3.00 TIOGA 50 40 * * * 3.00 UNION 40 * * * 30 * * * * 4.00 VENANGO 50 40 * * * 3.00 WARREN 50 40 * * * 3.00 WASHINGTON 50 40 * * * 3.00 WAYNE 40 * * * 40 * * * 4.00 WESTMORELAND 40 * * * 40 * * * 3.00 WYOMING 40 * * * 40 * * * 4.00 YORK 40 * * * 30 * * * * 4.00 York City 60 50 3.00 * Municipalities are listed only if PIDA rate differs from county rate.
* * Based on calendar year 2003 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, Federal Empowerment Zones, Federal Enterprise Communities, Keystone Opportunity Zones, Keystone Opportunity Expansion Zones, Keystone Opportunity Improvement Zones, Brownfield Sites and Companies Designated as Advanced Tech Firms will receive an interest rate of 3.00%.
* * * 10% equity required.
* * * * 20% equity required.
Financially Distressed Municipalities under Act 47*
Aliquippa City
Beaver CountyBraddock Borough
Allegheny CountyChester City
Delaware CountyClairton City
Allegheny CountyDuquesne City
Allegheny CountyFarrell City
Mercer CountyFranklin Borough
Cambria CountyGreenville Borough
Mercer CountyHomestead Borough
Allegheny CountyJohnstown City
Cambria CountyMillbourne Borough
Delaware CountyPittsburgh City
Allegheny CountyRankin Borough
Allegheny CountyScranton City
Lackawanna CountyWest Hazleton
Luzerne CountyFederal Empowerment Zones*
Portions of Pittsburgh and Philadelphia
Federal Enterprise Communities*
Portions of Harrisburg, Dauphin County
Portions of Lock Haven, Clinton County* Eligible for 3.0% interest rate.
[Pa.B. Doc. No. 04-1466. Filed for public inspection August 6, 2004, 9:00 a.m.]
