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Loans to fund real estate development

By Eric Veronikis
12/15/2006 7:31 AM

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Gov. Ed Rendell delivered $12 million in loans to support real estate development in Dauphin, Lancaster and York counties. The taxpayer funding was made available through the state’s Building PA program. South Third Development Corp., an affiliate of Harristown Development Corp., was awarded $4 million to create a company focused on supplemental real estate project funding that will be used to support the Southern Gateway development in Harrisburg, Rendell’s office said in a written statement. The Lancaster County Economic Development Corp. will receive $4 million to develop or redevelop projects in Lancaster County over the next 12 to 30 months. And the York County Economic Development Corp. was awarded $4 million to invest in York city real estate development, the governor’s office said.

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