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FOR IMMEDIATE RELEASE |
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State
Rep. Thaddeus Kirkland |
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Kirkland announces $474,000 in low-interest loans for Chester-area projects
HARRISBURG, Nov. 10 – State Rep. Thaddeus Kirkland, D-Delaware, announced that the state's Commonwealth Financing Authority today approved two low-interest loans for renewable energy projects at two facilities in Delaware County.
Kirkland said a $459,000 low-interest loan approved for Sun Center Studios Corp. will be used for a geothermal heat pump system at the feature film sound stage facility, which is designed to provide Hollywood-style sound stages to movie and television producers.
"The installation of the geothermal heat pump system is part of a strategy by the owners and designers of the studio project to make the facility LEED-certified," Kirkland said. "The heat pump system will lower energy costs, reduce emissions and save money."
Kirkland said the Sun Center Studios project is expected to create 200 full-time jobs.
The CFA also approved a $15,000 low-interest loan for the Fairgrounds Housing Partnership II. The loan will be used to help pay for construction of a geothermal heat pump system for the Fairground Homes housing project's community building.
Fairgrounds Homes and Fairgrounds Annex is a 319-unit public housing project in Chester Township built in the 1940s and 1960s. The new heat pump is part of a larger project to replace the deteriorating units in the complex with a 299-unit, master-planned community that will include energy efficient apartments and a LEED Silver certified community building. LEED stands for Leadership in Energy and Environmental Design.
The Commonwealth Financing Authority was established as an independent agency of state government to administer several programs in the state's economic stimulus package. These programs, such as the Renewable Energy Program under which these two low-cost loans were awarded, are designed to boost renewable energy use and production in Pennsylvania, and attract new businesses and industry to all regions of the state.
Kirkland said more information on the state's economic development and revitalization initiatives is available online at www.newpa.com.
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