Complete Redesign of PA Redevelopment Assistance Capital Grant Program

June 2012Articles In the Zone

The Pennsylvania Governor’s Budget Office recently announced that the Redevelopment Assistance Capital Program (RACP) will be completely redesigned.

According to the Governor's Budget Office , the goals of the redesign are to:

• To define the application process with published guidelines and procedures.
• To implement merit-based evaluation and selection.
• To promote transparency.
• To maintain rigorous monitoring, measurement and reporting.

Semi-annual funding rounds will be held for the program and funding is approximated at $125 million each year, with funding awards made in April and October of each year. Projects that are not “shovel-ready” within 365 days will be deferred to a later round. Business plans for the first funding round of the new program must be submitted by June 29, 2012.
Project selection will be through a scoring matrix based upon the following criteria:

• jobs created or retained;
• community impact;
• strategic cluster for development;
• financial impact / long-term sustainability; and
• construction shovel readiness.

Further information on the redesign can be found on the Governor's Office of the Budget website , including copies of the new Application Handbook.