Schweyer: $800,000 in tax credits to boost Allentown revitalization projects
ALLENTOWN, Nov. 10 – Funding in the amount of $800,000 in tax credits has been awarded to two Allentown projects which will expand access to low-income housing and expand youth education programs and resources, state Rep. Peter Schweyer, D-Lehigh, announced today.
“Whether it’s expanding access to affordable housing or giving our children a safe place to go after school to strengthen their minds and bodies, these are investments that make a difference,” Schweyer said. “These tax credits will not only create a place families can call home, or a place for kids to grow to their full potential, it also continues to build relationships where neighbors and organizations work together to improve the community.”
Schweyer said the tax credits include $280,000 to the Housing Association & Development Corporation for the construction of four new townhomes for low-income families and the rehabilitation of three additional affordable rental housing units. Additionally, $520,000 was awarded to Community Action Development Corporation of Allentown for its acquisition and renovation of a community center and continuation of youth education programs.
NAP is designed to encourage investment in distressed communities by providing tax credits to businesses that donate capital. The program can be used for projects such as affordable housing, education, charitable food, crime prevention and other long-term community revitalization.
More about the tax credits is available here.