Markosek: $1 million in RACP funding awarded to local real estate developer
HARRISBURG, Aug. 1 – A real estate developer in Monroeville was awarded $1 million Thursday in Redevelopment Assistance Capital Program funding, announced state Rep. Brandon Markosek, D-Allegheny.
Markosek said Jamison Lane LP will use the allotted funding for phase two of an expansion project that will consist of constructing an extension onto an existing office building.
“To announce such a significant grant like this is not only exciting for Jamison Lane LP but also the district as a whole,” Markosek said. “These grants help entities expand and refurbish their current facilities, so I’m happy to see state funding go toward initiatives that will help businesses located in our district with their continued growth.”
The funding will assist Jamison Lane LP in constructing a new addition onto its existing facility, Markosek said. The three-story addition will include exterior masonry and glass and metal construction. The interior will be an open office space with a variety of conference rooms and include demountable partitions that will allow for open collaboration between coworkers.
The Redevelopment Assistance Capital Program is a grant program administered by the Office of the Budget for the acquisition and construction of regional economic, cultural, civic, recreational, and historical improvement projects.
RACP projects are authorized in the Redevelopment Assistance section of a Capital Budget Itemization Act, have a regional or multi-jurisdictional impact, and generate substantial increases or maintain current levels of employment, tax revenue or other measures of economic activity.