New Reading Authority Racing To Meet Deadline For State CRIZ Application

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

At its second meeting in as many days, the newly formed City of Reading Revitalization and Improvement Zone Authority continued racing a Nov. 30 deadline to apply for a state CRIZ designation.

“If we win, I hope the new zone will create jobs to help stimulate our economy and the community’s growth,” said Mike Toledo, director of the Daniel Torres Hispanic Center and authority treasurer.

The CRIZ program was created by recent state legislation to provide economic development and job creation within a city. Only two Pennsylvania third-class cities will receive that zone designation in 2013. Other candidates are Allentown, Bethlehem, Altoona, Wilkes-Barre, Chester, Erie, Lancaster and York.

Read more: http://readingeagle.com/article.aspx?id=519889

Greater Reading Chamber Receives Grant For Manufacturing

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

The Corbett administration today announced the award of a Discovered in Pennsylvania-Developed in Pennsylvania grant to help launch the Greater Reading Chamber of Commerce & Industry’s Reignite in Pennsylvania program, created to support the growth of manufacturers.

The Greater Reading Chamber will receive a $286,600 grant to support targeted outreach, coaching, mentoring, training and consulting to an estimated 30 companies in the first year and another 30 companies in the second year.

Read more: http://readingeagle.com/article.aspx?id=519627

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