HARRISBURG — Rep. Bud Cook (R-Washington/Fayette) announced that the Commonwealth Financing Authority (CFA) today met and approved a $4 million Business in Our Sites (BIOS) grant in combination with a $6 million BIOS loan to assist the Redevelopment Authority of the County of Washington with the redevelopment of the former Wheeling-Pittsburgh Steel Corporation site in Allenport Borough, Washington County.
“Funding for this redevelopment project is specifically aimed at jumpstarting economic growth and job creation throughout the Mon Valley,” said Cook. “This is a perfect example of what can happen when the Commonwealth, state and local government officials and the private sector all come together to improve our overall quality of life and empower more local workers to obtain family-sustaining employment with quality benefits.”
The Redevelopment Authority is partnering with Mon River Partners, LP, to demolish the unusable building slabs on the site and then complete environmental assessment and abatement, excavating and grading, and engineering. The site’s capacity is for approximately 1.6 million square feet of manufacturing facilities.
Total project cost is $10,000,000. The BIOS loan will be secured by a first mortgage lien on 415 acres at the site, as well as a guarantee from Mon River Industrial Group, LLC.
The CFA was established as an independent agency of the Commonwealth and holds fiduciary responsibility over the funding of programs and investments in Pennsylvania’s economic growth.
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Representative Bud Cook
49th Legislative District
Pennsylvania House of Representatives
Media Contact: Ty McCauslin