PIDC BLOG

Real Estate Initiatives

May 20, 2012

LOWER SCHUYLKILL RIVER MASTER PLAN UNDERWAY

The City of Philadelphia and PIDC are developing a Master Plan for the 4,100 acre Lower Schuylkill River, an area which has the potential to accommodate the next generation of industrial and commercial activity in Philadelphia.  The Master Plan, to be completed in Fall 2012, will provide vision and guidance that is intended to leverage

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NMTC

May 20, 2012

PIDC AWARDED $50 MILLION IN NEW MARKETS TAX CREDITS

Mayor Michael A. Nutter and PIDC president John Grady recently announced that PIDC received $50 million in New Market Tax Credits (NMTC) through the U.S. Treasury Department’s Community Development Financial Institutions (CDFI) Fund. These federal tax credits are utilized to spur private sector investment in targeted neighborhoods throughout the country. Nationally, the U.S. Treasury Department

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May 19, 2012

PIDC FINANCES THREE SMALL BUSINESSES WITH NEW FEDERAL FUNDING

PIDC recently approved low-interest loans to three growing hospitality and specialty food businesses in Philadelphia using new funds it received from the Small Business Administration (SBA) through the Intermediary Lending Program (ILP).  PIDC was selected by the SBA as one of only 20 lending organizations across the nation to participate in the ILP program and

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