West Chester Borough, local developers and nonprofits can compete for a share of $4.5 million in state tax credits aimed at mixed-use construction and renovation projects along commercial corridors. The application window is open until Oct. 30.
The Pennsylvania Housing Finance Agency (PHFA) began accepting proposals Monday, Aug. 31, for its Community Revitalization Fund Program, MyChesCo reported. Submissions are due by 2 p.m. Oct. 30.
The program funds projects that combine residential space with commercial or retail uses. Eligible work includes rehabilitating older or underused buildings, preparing commercial lease space, converting existing structures and adding housing units within new or renovated buildings, according to the PHFA press release.
PHFA will sell $4.5 million in state tax credits and use the proceeds to make grants. The agency targets projects in commercial and retail corridors undergoing revitalization.
Counties, cities, boroughs, redevelopment authorities, for-profit firms, nonprofits and economic development organizations are all eligible to apply.
What it means for West Chester
West Chester is classified as a borough under Pennsylvania law, not a third-class city. That matters. Third-class cities receive higher priority in this year's scoring, and Coatesville is the only third-class city in Chester County.
West Chester Borough is still an eligible applicant. So are local for-profit developers, nonprofits and economic development groups.
The borough has been investing in its Gay Street corridor. West Chester and Chester County celebrated the first phase of infrastructure improvements to the Gay Street Open Air Marketplace, a project funded in part by two Chester County grants totaling $1,102,798.
Robin Wiessmann, PHFA's executive director and CEO, said in the agency's Monday, Aug. 31, announcement that the program "provides a much-needed boost to aid community development across Pennsylvania."
How to apply
The full request for proposals is posted on PHFA's website. Applications can be submitted at crfp.phfa.org. Questions can be directed to PHFA's Shelby Hartwick.
West Chester Borough Council's next voting session is Wednesday, Sept. 16, at 6:30 p.m. at the Municipal Building, 401 East Gay St. Residents can raise the topic during public comment.
