Dauphin County Commissioners recently approved a $5.3 million low-interest loan to Vartan Group.
The loan is the first through the commissioners’ Dauphin County Infrastructure Bank.
“We created the Dauphin County Infrastructure Bank because we knew that some large residential, commercial or industrial projects could only get done if financing was available for road improvements that many times are necessary,’’ Chairman Jeff Haste said. “Susquehanna Union Green is an economically important project for Susquehanna Township and the region.”
The loan has 1 percent interest over 10 years.
Vartan Group will use the funds for the Susquehanna Union Green project along Linglestown Road.
The project will create a mix of residential and commercial development on 58 acres at Progress and Linglestown roads. The loan will be used to widen of portions of Linglestown Road and Progress Avenue. It also will be used to build sidewalks and crosswalks, add a new traffic signal at the intersection of Progress and Garrison Avenues, and complete offsite improvements at the intersection of Progress Avenue and Paxton Church Road.
The transportation improvements are an integral component of Susquehanna Union Green with the goal of achieving the vision of a town center, H. Ralph Vartan, CEO of the Vartan Group, said.