HARRISBURG, Pa. (WTAJ) — An organization in Cambria County will receive a $500k award to revitalize the community, according to Governor Tom Wolf.
The state has awarded $2.2 million total to five different projects. According to Gov. Wolf, the funding was raised through the sale of tax credits under the Mixed-Use Development Tax Credit program.
Argus Two Inc. will receive $500k to create new units of new or rehabilitated housing for people who have income at or below 80% of the area’s median income.
“We believe there is pent up economic demand coming out of the pandemic, and these mixed-use developments can be a part of our economic recovery,” Gov. Wolf said. “Investments in our communities are so critical at this point in time, which is why I am pleased to announce the funding for these projects with their potential to provide an economic stimulus.”
Through the award, new housing units will also be created in Allegheny, Mercer and Philadelphia Counties.
The Mixed-Use Development Tax Credit Program was created as part of the commonwealth’s fiscal year 2016-17 budget. The agency is allocated $3 million in credits annually to sell in order to generate community revitalization capital.