PA Rethinks Debt-Heavy Projects
Money ain't cheap, ya know
HARRISBURG — Pennsylvania's most sweeping economic development programs could see a limited spending cap and permanent guidelines under a recently passed proposal.
The state's Redevelopment Assistance Capital Program (often called "R-Cap") provides grants with borrowed money for private projects pursued by municipalities and local agencies.
That could include hospital expansions, parking garages or community centers — any project with a cultural, civic or historical connection that could create jobs and be tied to economic development.
