Community projects gain nearly $1M in tax credits

Seven community revitalization projects were approved for $995,000 in tax credits through the Neighborhood Assistance Program in her district, state Sen. Lisa Boscola (D-Lehigh/Northampton) recently announced.

The program’s goal is to promote community participation and collaborations among businesses, residents, and nonprofits. The tax credits of up to 55 percent encourage businesses to invest in projects designed to improve distressed areas and conserve neighborhoods.

“The Neighborhood Assistance Program is a key community development tool that is designed to support projects in distressed areas that require financial assistance to make them economically viable and will have a positive impact on revitalizing local communities,” Boscola said.

The program has five main components, including the Charitable Food Program, the Enterprise Zone Program, the Neighborhood Assistance Program, the Neighborhood Partnership Program, and Special Program Priorities. It is administered through the PA Department of Community and Economic Development.

The seven recipients are the Hispanic Center Lehigh Valley, ArtsQuest Bethlehem, Sycamore Hill Farm Development, Heritage Riverview, Triple Net Investments XII, the Greater Easton Development Partnership and the Community Action Development Corp.of Bethlehem.

Tax credits awarded were in amounts of $75,000, $150,000 or $160,000.

The majority of the projects include the development or redevelopment of commercial space, expanding facilities, or improving economic viability.