$280,000 in tax credits to benefit residents of Mt. Oliver
Community-based improvement program helps local residents
HARRISBURG, Dec. 17 – Rep. Harry Readshaw, D-Allegheny, today announced $280,000 in state tax credits were awarded under the Neighborhood Partnership Program, benefitting over 11,000 residents of Mt. Oliver.
The funding supports Economic Development South, a community development corporation in the South Pittsburgh/South Hills region of Allegheny County.
“The tax credits approved today will continue to support community investments from rehabbing housing and a blighted commercial building, to attracting new businesses, cleaning up and beautifying streetscapes and creating jobs,” Readshaw said.
NPP is a component of the Neighborhood Assistance Program. Projects supported by the NPP must serve clients who are low income and residents of economically distressed neighborhoods. Projects can fall under one of several categories, including affordable housing, community services, education, job training and several others. In order to be eligible for the tax credit, businesses must contribute at least $50,000 annually for a minimum of five years.
The tax credits are part of nearly $18 million approved tax credits to support 136 revitalization projects across the commonwealth.