State Agency OKs Millions More In Loans For Projects In Downtown Reading

English: Downtown Reading, Pennsylvania; with Berks County courthouse on left; July 2007 (Photo credit: Wikipedia)

A state agency has approved an extra $5 million in low-cost loans for new projects in downtown Reading, as well as an extra $1 million for the planned Doubletree Hotel on Penn Street.

The loans, sought months ago and already part of the hotel’s financing package, were formally approved today by the Commonwealth Financing Authority.

Both packages will go through the Greater Berks Development Fund.

The $5 million will be available for as-yet-undetermined downtown projects, said Edward J. Swoyer, Greater Berks executive director.

Read more: http://readingeagle.com/article.aspx?id=511616

Harrisburg Has Paid More Than $630K In Debt Service On $3.795M Capitol View Loan

Map of Pennsylvania highlighting Dauphin County (Photo credit: Wikipedia)

HARRISBURG. PA – More than $630,000 in city grant funds have been diverted to repay a federal loan for the failed Capitol View project whose bankrupt developer awaits sentencing for fraud.

City officials say they’re hoping David Dodd’s sentence includes some restitution for Harrisburg, which guaranteed a $3.795 million federal loan for the project in 2006 that Dodd never repaid.

Between that, unpaid property taxes and another unpaid loan from the former Mayor’s Office of Economic Development program, Dodd’s project has become a $5 million liability for the city.

That amount doesn’t include city legal bills from engaging in his bankruptcy and fraud proceedings, or to defend the city against lawsuits from contractors never paid for their work on the $28 million project.

Read more: http://www.pennlive.com/midstate/index.ssf/2013/09/harrisburg_paid_all_630k_of_de.html#incart_m-rpt-2

And The Winner Is? Melanie Amaro Crowned Winner Of X Factor USA

In a star-studded finale that concluded months of competition, Melanie Amaro was crowned the first winner of the American version of X Factor and the winner of a $5 million recording contract.  The biggest prize ever awarded for a singing competition.  Melanie will also appear in a Pepsi commercial.

Star after star graced the stage this evening, Justin Bieber w/ Stevie Wonder, Leona Lewis, 50 Cent, Pit Bull and Neo.  The final twelve returned to perform group numbers and several of the finalists made cameo appearances with the superstars.

Josh Krajcik finished in second place and Chris Rene finished in third place.

Congratulations to all this evening’s finalists. 

X Factor USA will be back in 2012 for a second season!