Blair County Projects Receive over $900k in Tax-Credit Funding
Four Blair County projects were awarded a total of $917,000 in tax-credit funding from the Pennsylvania Department of Community and Economic Development (DCED) through their Neighborhood Assistance Program (NAP) funding. The four projects include Fairview Cemetery, Nehemiah Project’s Wright Place for Kids, Curry Realty’s Former Vipond Building and VIP Financial Matters’ former Gilden Barton Funeral Home.
The NAP program is designed to help struggling neighborhoods through providing credits against state tax liability that recipient organizations can use to reduce their own tax liability or sell for near face value to businesses that can use the credits. The program has five subcategories: including regular NAP, which is providing the funding for the Fairview Cemetery project; Special Program Priorities, which is providing funding for the Nehemiah Project work; and the Enterprise Tax Credit Program, which is providing funding for the Curry Realty and VIP Financial Matters projects.
“These NAP tax credit program and other funding programs offered through DCED are invaluable resources in the redevelopment and improvements to our community projects like Fairview Cemetery and the Nehemiah Project’s Wright Place for kids as well as the private sectors business projects including Curry Realty and VIP Financial Matters,” said Steve McKnight, President/CEO of the Altoona Blair County Development (ABCD) Corp. “ABCD has had a long and successful history in working cooperatively with DCED and Blair County organizations to leverage the available financial resources to make our community and economic development projects come to fruition and we look forward to more announcements in the near future.”
For the complete article as it appeared in the November 11, 2019 edition of the Altoona Mirror click here.