UPMC applied to get the funds from Pennsylvania Economic Development Financing Authority, saying it plans to use about $350 million to pay off obligations. Those obligations include approximately $235 million to pay off the cost of loaning PinnacleHealth System funds for its July 1 purchase of four central Pennsylvania hospitals.

A local developer has been awarded $15 million in new markets tax credits to help finance a major overhaul of a historic cargo warehouse on the South Side. Pennsylvania Housing Finance Agency and the Urban Redevelopment Authority supported the effort to secure the tax credits.

Menno Haven will use tax-exempt bonds to finance the rehab center. Franklin County Commissioners on Thursday approved a tax-exempt obligation of up to $21 million for the rehab center project. The county and its taxpayers are not pledged to the bonds or the project. Those who buy the bonds take the financial risk.

Thus far in 2017, PIDA has approved $31.7 million in low-interest loans that have resulted in $149 million in private investment and supported 1,422 created and retained full-time jobs. Over the past month, PIDA approved a total of more than $2.6 million in fixed, low-interest loans to five projects in Bradford, Erie, Lancaster and Lehigh counties that will generate more than $7.6 million in matching capital investment.

The Berks County Industrial Development Authority on approved an application by the Reading Health System for a tax-exempt revenue bond issue not to exceed $650 million to fund its acquisition of five acute-care hospitals in three contiguous counties.

Tapestry Charter School is financing the $17.2 million project by issuing tax-exempt bonds through an affiliate of the Erie County Industrial Development Agency. Those bonds will also allow the nonprofit school to refinance $12.2 million in existing debt at lower rates.

The CDFA National Summit brings together the leaders and dealmakers in the development finance industry to discuss best practices, trends, and project financing solutions. The CDFA National Summit is designed for both public and private sector participants from all areas of the country. Attendees represent a diverse cross section of the development finance industry and bring unique perspectives, creative financing approaches, and interesting conversation to the event.

The CDFA – Frost Brown Todd Infrastructure Finance Webcast Series will address current trends in financing the nation's most pressing infrastructure needs along with strategies for assembling capital, structuring the deal, and addressing critical financing gaps.

>>> SEARCH HEADLINES   

Premium Sponsor