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Fontana Announces State Funding to Assist New Beechview IGA
On November 18, 2010
Pittsburgh, November 18, 2010 – State Sen. Wayne D. Fontana (D-Allegheny) today announced that he has secured $250,000 in Redevelopment Assistance Capital Program (RACP) that will be added to funding that he had previously secured from the state for the new Beechview IGA. The funding will be used to assist with infrastructure and capital improvements for the new store scheduled to open this spring on Broadway Ave.
“I am very excited that we are continuing to move this process forward,” said Fontana. “I was happy to be able to shepherd this effort through the closing process and recognize Mayor Ravenstahl, the Urban Redevelopment Authority (URA) and the IGA for acknowledging the importance of this store as our top community priority in Beechview. Their continued commitment to this project, even in the face of obstacles, is truly commendable.”
The funding will be used to purchase equipment pursuant to the opening of the renovated grocery store, as well as for the actual renovations and infrastructure improvements that will need to be made to the building. Total projects costs are expected to exceed $1.8 million with the remaining costs to be paid for through bank financing and equity, loans and other programs. Initially, approximately 6,225 square feet of selling space will be utilized for the grocery store which will include a fresh in-store bakery, fresh cut meat and seafood, fresh produce, bulk foods, ethnic foods and a delivery service.
“Obviously, we all appreciate the importance of this store as the anchor for Beechview’s future business development that will spinoff from this catalyst. Mayor Ravenstahl, the URA, the IGA and I are all focused on continuing to move this process forward. We are confident that when the grocery store opens in the Spring of 2011 that it will also serve a number of Beechview’s neighboring communities as well.”
The state funding will be provided through the URA through the Pittsburgh Business Growth Fund Loan and the Redevelopment Assistance Capital Program. The URA Board will vote on the two items during today’s meeting.
Senator Fontana also announced that, in keeping with his commitment to the Beechview neighborhood, a community meeting will be held on December 2nd at 7 p.m. to provide an update on the project and answer questions from residents and businesses. More details on the location and agenda for the meeting will be forthcoming.