Applications are being accepted for the Redevelopment Capital Assistance Program (RACP) until January 12. This commonwealth reimbursement grant program provides financial assistance for the acquisition and construction of regional economic, cultural, civic, and historical improvement projects. Projects that can normally obtain funding from PennDOT, PENNVEST, DCED, or other state agencies are generally restricted from participating in RACP.
To be eligible for RACP funding, projects must meet the following criteria:
- Be authorized in the Redevelopment Assistance section of a Capital Budget Itemization Act
- Have a regional or multi-jurisdictional impact
- Generate substantial increases or maintain current levels of employment, tax revenues, or other measures of economic activity
- Have a total project cost of at least $1,000,000
- Be eligible for tax-exempt bond funding under existing federal law and regulations
- Have at least secured 50% non-state financial participation
A new, streamlined application process is replacing the former 22-tab Application & Business Plan (A&BP) with a 10-section fillable Project Management Proposal (PMP) post-award application process. The PMP will focus on the basic project details, such as the proposed scope of work, budget forms, project schedule, and program compliance acknowledgement, to get your RACP project through the grant agreement drafting stage. Applications and all project materials will now be submitted through the Electronic Single Application system, which requires a Keystone Login. A $500 application fee is required.
RACP is a vital tool for communities across Pennsylvania. If you have a qualified project, don’t miss out on this opportunity to make a difference in your community! Contact your local state representative and state senator about applying for RACP funding