PENNSYLVANIA INDUSTRIAL DEVELOPMENT AUTHORITY Participation and Interest Rates [28 Pa.B. 4850] 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. The rates, which were adopted by the PIDA Board of Directors at its meeting held July 1, 1998, are effective as of that date and will remain in effect until changed by a notice in the Pennsylvania Bulletin. The rates follow as 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, (717) 787-6245.
SAMUEL A. MCCULLOUGH,
ChairpersonAnnex A PIDA PARTICIPATION AND INTEREST RATES
FOR COUNTIES AND MUNICIPALITIES*
OVER 25,000 POPULATIONEffective July 1998 through June 1999
Maximum PIDA Interest Participation Rate** (S)
%
(L)% ADAMS 40 *** 30 **** 6.75 ALLEGHENY 40 *** 30**** 6.75 McKeesport City 40 30**** 3.75 Pittsburgh City 40 *** 30**** 5.25 ARMSTRONG 40 40 *** 3.75 BEAVER 40 *** 40 *** 5.25 BEDFORD 40 40 *** 3.75 BERKS 40 *** 40 *** 6.75 Reading City 40 40 *** 5.25 BLAIR 40 *** 40 *** 5.25 Altoona City 40 40 *** 5.25 BRADFORD 40 *** 40 *** 5.25 BUCKS 40 *** 40 *** 6.75 Bensalem Twp. 40 *** 40 *** 5.25 Bristol Twp. 40 *** 40 *** 5.25 BUTLER 40 *** 40 *** 5.25 CAMBRIA 40 40 3.75 CAMERON 40 40 *** 3.75 CARBON 40 40 *** 3.75 CENTRE 30**** 30**** 6.75 CHESTER 30**** 30**** 6.75 CLARION 40 40 *** 5.25 CLEARFIELD 40 40 3.75 CLINTON 40 40 *** 3.75 COLUMBIA 40 40 *** 3.75 CRAWFORD 40 *** 40 *** 5.25 CUMBERLAND 30**** 30**** 6.75 DAUPHIN 30**** 30**** 6.75 Harrisburg 40 *** 30**** 5.25 DELAWARE 40 *** 30**** 6.75 Chester City 40 40 3.75 ELK 40 40 *** 5.25 ERIE 40 *** 40 *** 5.25 Erie City 40 40 *** 3.75 FAYETTE 40 40 3.75 FOREST 40 40 3.75 FRANKLIN 40 *** 30**** 5.25 FULTON 40 40 *** 3.75 GREENE 40 40 3.75 HUNTINGDON 40 40 3.75 INDIANA 40 40 3.75 JEFFERSON 40 40 *** 3.75 JUNIATA 40 40 3.75 LACKAWANNA 40 40 *** 3.75 LANCASTER 30**** 30**** 6.75 Lancaster City 40 *** 30**** 5.25 LAWRENCE 40 40 *** 5.25 New Castle City 40 40 *** 3.75 LEBANON 30**** 30**** 6.75 Lebanon City 40 *** 30**** 6.75 LEHIGH 40 *** 40 *** 6.75 Allentown City 40 40 *** 5.25 Bethlehem City 40 *** 40 *** 5.25 LUZERNE 40 40 *** 3.75 Wilkes-Barre City 40 40 3.75 LYCOMING 40 40 *** 5.25 Williamsport City 40 40 *** 3.75 McKEAN 40 40 *** 5.25 MERCER 40 *** 40 *** 5.25 MIFFLIN 40 40 *** 3.75 MONROE 40 40 *** 3.75 MONTGOMERY 30**** 30**** 6.75 Norristown Boro 40 *** 30**** 5.25 Upper Dublin Twp. 40 *** 30**** 6.75 MONTOUR 40 *** 30**** 6.75 NORTHAMPTON 40 *** 40 *** 5.25 NORTHUMBERLAND 40 40 *** 3.75 PERRY 30**** 30**** 6.75 PHILADELPHIA 40 40 *** 3.75 PIKE 40 *** 40 *** 5.25 POTTER 40 40 *** 3.75 SCHUYLKILL 40 40 *** 3.75 SNYDER 40 *** 40 *** 5.25 SOMERSET 40 40 *** 3.75 SULLIVAN 40 40 *** 3.75 SUSQUEHANNA 40 40 *** 3.75 TIOGA 40 40 *** 3.75 UNION 40 *** 40 *** 6.75 VENANGO 40 40 *** 3.75 WARREN 40 *** 40 *** 5.25 WASHINGTON 40 *** 40 *** 5.25 WAYNE 40 40 3.75 WESTMORELAND 40 *** 40 *** 5.25 WYOMING 40 40 3.75 YORK 40 *** 30**** 6.75 York City 40 30**** 3.75 * Municipalities are listed only if PIDA rate differs from County rate. ** Based on calendar year 1997 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, financially distressed municipalities under Act 47 (over), Federal empowerment zones, Federal enterprise communities and brownfield sites 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 Financially Distressed Municipalities Under Act 47* Aliquippa City Franklin Borough Beaver County Cambria County Braddock Borough Homestead Borough Allegheny County Allegheny County Chester City Johnstown City Delaware County Cambria County Clairton City Millbourne Borough Allegheny County Delaware County Duquesne City North Braddock Borough Allegheny County Allegheny County East Pittsburgh Borough Rankin Borough Allegheny County Allegheny County Farrell City Scranton City Mercer County Lackawanna County Wilkinsburg Borough Allegheny County Federal Empowerment Zones * Portions of Pittsburgh and Philadelphia Federal Enterprise Communities * Portions of Harrisburg, Dauphin County
Portions of Lock Haven, Clinton County*Eligible for 3.75% Interest Rate
[Pa.B. Doc. No. 98-1583. Filed for public inspection September 25, 1998, 9:00 a.m.]
