Scarnati Announces Passage of
Debt Reduction and Transparency Bill

The State Senate today approved legislation to require greater transparency and rigorous guidelines for the awarding of economic development grants through the state Redevelopment Assistance Capital Program (RACP), according to Senator Joe Scarnati (R-25).

Scarnati explained that House Bill 493 would immediately decrease the Commonwealth’s RACP debt ceiling from its current $4.05 billion to $3.45 billion. Reforms to the RACP legislation, as amended into the bill by the Senate, will also protect rural communities and ensure that project applications from rural counties receive equal consideration as those from suburban and urban areas.

The Redevelopment Assistance Capital Program provides grants to local communities for the acquisition and construction of regional economic, cultural, civic, and historical improvement projects. The funding may be used for the design and construction of facilities that are economic development projects which generate substantial increases in employment, tax revenues or other measures of economic activity.

“Our goal is to make sure that every tax dollar spent on economic development creates significant growth and job opportunities for Pennsylvanians,” Scarnati said. “This legislation will provide greater scrutiny and ensure that taxpayers’ money is being spent wisely and efficiently.”

According to Scarnati, House Bill 493 will require a decrease of $600 million in the RACP debt ceiling as well as substantive changes to the program and application process to promote transparency and maintain rigorous monitoring and reporting for all grants.

“The RACP has provided our local communities with help funding numerous regional economic development projects, including medical facilities, industrial parks, manufacturing facilities, workforce development centers and YMCA’s,” Scarnati said. “These important reforms to RACP will maintain the program as a viable economic development tool and ensure that it is administered in a purposeful, objective and transparent manner.”

The news leader of the Twin Tiers ... since 1947

Comments

Post a Comment

Popular posts from this blog

Arrests in Operation Diamond Drop

Image
HARRISBURG — Attorney General Tom Corbett today announced that agents from the Attorney General’s Bureau of Narcotics Investigation, assisted by local police officers from across Erie County and the Pennsylvania State Police, are in the process of arresting 41 suspects linked to a nearly $5 million drug organization operating in and around Erie. Corbett said the nearly 2-year long grand jury investigation, known as “Operation Diamond Drop,” used court-ordered wiretaps, undercover surveillance and controlled drug purchases to identify large-scale cocaine and marijuana traffickers in the region. “Drug trafficking at this level is ‘big business’, including upper-level suppliers, mid-level distributers and street-level sales people,” Corbett said. “Our investigations focus on following the drugs and money to their source, allowing us to attack an entire drug distribution network when we make our arrests.” Corbett said the chief figure charged today is Miguel Angel Burgos, 31, 9891 Holly...
Read more

Cops: Man Had Sex with 13-Year-Old

Image
A Derrick City man is accused of having sex with a 13-year-old girl. 19-year-old Richie Cromley is charged with statutory sexual assault, unlawful contact with a minor and criminal solicitation on a computer of a sex act with a child. He was sent to jail on $100,000 bail. The news leader of the Twin Tiers ... since 1947
Read more

Two Arrested on Drug Charges

Image
Two people were arrested on drug charges after state police got a report about unauthorized use of a vehicle. Troopers found the vehicle in Randolph on Wednesday and arrested the driver, 31-year-old Bridget Bardo of Conewango, for aggravated unlicensed operation and criminal possession of a controlled substance. She was released on her own recognizance and scheduled to appear in Town of Randolph Court. Her passenger, 28-year-old Andrew Jaquish of Salamanca, was charged with three counts of criminal possession of a controlled substance. Police also learned there was an active warrant against him from City of Jamestown Court. He was sent to Chautauqua County Jail on $1,000 bail. The news leader of the Twin Tiers ... since 1947
Read more