The eagerly anticipated application period for Pennsylvania’s largest economic development grant program is expected to open for 30 days starting on July 13, 2020. The Redevelopment Assistance Capital Program (RACP) provides grants for the acquisition and construction of economic, cultural, civic, recreational and historical improvement projects. Earlier this month the Pennsylvania House of Representatives and Senate approved SB 905, the Capital Budget Itemization bill. The Governor is expected to sign this bill by the end of June, giving the program the green light to open up for new applications.
Projects with a total cost of $1 million or more are eligible to apply for up to 50% of the total construction budget. Candidates for RACP must have been previously authorized in a Capital Budget Itemization Act in order to be eligible. Not sure what that means? We have a unique expertise in this particular program and can assist with all aspects of this process from the application completion to the drawdown of awarded grant funds.
Please contact us to learn more.