PENNSYLVANIA INDUSTRIAL DEVELOPMENT AUTHORITY Interest Rates and Participation Rates [36 Pa.B. 5945]
[Saturday, September 23, 2006]The Pennsylvania Industrial Development Authority (PIDA) gives notice of the change in interest rates and participation rates for loans approved by the PIDA Board of Directors. Loan applications submitted after October 1, 2006, and until further notice will be subject to the interest rate and participation rate schedule set forth as follows in the respective counties as determined by the most recent applicable unemployment statistics 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 interest rates on a case by case basis for good cause shown.
Note: Loan applications are subject to the schedule of interest rates in effect at the time the application is received by the Department of Community and Economic Development. Any loan application that is deferred shall be subject to the schedule of interest rates in effect on the date of the PIDA Board meeting at which the application is considered, regardless of when the application was originally submitted.
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 Population
Effective October 2006Maximum
PIDA
Participation
Interest
Rate**
(S) (L) % ADAMS 30 * * * * 30 * * * * 5.75 ALLEGHENY 40 * * * 30 * * * * 4.75 McKeesport City 50 30 * * * * 4.75 ARMSTRONG 50 40 * * * 4.75 BEAVER 40 * * * 30 * * * * 4.75 BEDFORD 50 40 * * * 4.75 BERKS 40 * * * 30 * * * * 5.75 Reading City 50 30 * * * * 4.75 BLAIR 40 * * * 40 * * * 4.75 BRADFORD 40 * * * 40 * * * 4.75 BUCKS 40 * * * 30 * * * * 5.75 Bristol Township 40 * * * 30 * * * * 4.75 BUTLER 40 * * * 30 * * * * 4.75 CAMBRIA 50 40 * * * 4.75 CAMERON 50 40 * * * 4.75 CARBON 40 * * * 40 * * * 4.75 CENTRE 40 * * * 40 * * * 4.75 CHESTER 40 * * * 30 * * * * 5.75 CLARION 40 * * * 40 * * * 4.75 CLEARFIELD 40 * * * 40 * * * 4.75 CLINTON 50 40 * * * 4.75 COLUMBIA 40 * * * 40 * * * 4.75 CRAWFORD 40 * * * 40 * * * 4.75 CUMBERLAND 30 * * * * 30 * * * * 5.75 Carlisle Borough 40 * * * 30 * * * * 5.75 DAUPHIN 40 * * * 30 * * * * 5.75 Harrisburg City 50 30 * * * * 4.75 DELAWARE 40 * * * 30 * * * * 5.75 Chester City 50 30 * * * * 4.75 Upper Darby Township 40 * * * 30 * * * * 4.75 ELK 50 40 * * * 4.75 ERIE 40 * * * 40 * * * 4.75 Erie City 50 40 * * * 4.75 FAYETTE 50 40 * * * 4.75 FOREST 60 50 4.75 FRANKLIN 40 * * * 30 * * * * 5.75 FULTON 40 * * * 40 * * * 4.75 GREENE 50 40 * * * 4.75 HUNTINGDON 50 40 * * * 4.75 INDIANA 40 * * * 40 * * * 4.75 JEFFERSON 40 * * * 40 * * * 4.75 JUNIATA 40 * * * 40 * * * 5.75 LACKAWANNA 40 * * * 40 * * * 4.75 LANCASTER 40 * * * 30 * * * * 5.75 Lancaster City 40 * * * 30 * * * * 4.75 LAWRENCE 40 * * * 40 * * * 4.75 New Castle City 50 40 * * * 4.75 LEBANON 40 * * * 30 * * * * 5.75 LEHIGH 40 * * * 30 * * * * 5.75 Allentown City 50 30 * * * * 4.75 Bethlehem City 40 * * * 30 * * * * 4.75 LUZERNE 40 * * * 40 * * * 4.75 Hazleton City 50 40 * * * 4.75 Wilkes-Barre City 50 40 * * * 4.75 LYCOMING 40 * * * 40 * * * 4.75 Williamsport City 50 40 * * * * 4.75 McKEAN 50 40 * * * 4.75 MERCER 50 30 * * * * 4.75 MIFFLIN 40 * * * 40 * * * 4.75 MONROE 40 * * * 40 * * * 4.75 MONTGOMERY 40 * * * 30 * * * * 5.75 Norristown Borough 40 * * * 30 * * * * 4.75 MONTOUR 40 * * * 40 * * * 4.75 NORTHAMPTON 40 * * * 30 * * * * 4.75 NORTHUMBERLAND 40 * * * 40 * * * 4.75 PERRY 40 * * * 30 * * * * 5.75 PHILADELPHIA 50 40 * * * 4.75 PIKE 40 * * * 30 * * * * 4.75 POTTER 50 40 * * * 4.75 SCHUYLKILL 40 * * * 40 * * * 4.75 SNYDER 40 * * * 40 * * * 4.75 SOMERSET 50 40 * * * 4.75 SULLIVAN 40 * * * 40 * * * 4.75 SUSQUEHANNA 40 * * * 40 * * * 4.75 TIOGA 40 * * * 40 * * * 4.75 UNION 40 * * * 30 * * * * 4.75 VENANGO 40 * * * 40 * * * 4.75 WARREN 40 * * * 40 * * * 4.75 WASHINGTON 40 * * * 40 * * * 4.75 WAYNE 40 * * * 40 * * * 4.75 WESTMORELAND 40 * * * 40 * * * 4.75 WYOMING 40 * * * 40 * * * 4.75 YORK 40 * * * 30 * * * * 5.75 York City 50 30 * * * * 4.75 * Municipalities are listed only if PIDA rate differs from county rate.
** Based on calendar year 2005 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, Keystone Innovation Zones, Brownfield Sites and Companies Designated as Advanced Tech Firms will receive an interest rate of 4.75%.
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. 06-1889. Filed for public inspection September 22, 2006, 9:00 a.m.]
