Patrick Miller, executive vice president of the Altoona Blair County Development Corporation, has confirmed his organization is requesting $31,000 in funding from the Pennsylvania Financing Authority to help aid Tyrone Borough in an effort to bring a hotel to the downtown area.
Miller said the money is being requested through a new program called Business in Our Sites. He said the request will be considered in mid-December by the authority.
“We have agreed to work with the borough in any way we can,” said Miller.
He said the new program is part of Governor Ed Rendell’s economic stimulus program. Miller explained if the funding is approved it would be used for the purpose of appraisals of structures located in the 900 block of Pennsylvania Avenue. The area is being considered as a possible location for a new hotel by a developer who’s expressed interest in bringing such a property to Tyrone.
Miller said other work needs done to make the site, if it secured, “shovel ready’ for a developer. Environmental assessments would need to be done and preliminary engineering work would also need to be completed. Miller said issues such as sewer and water lines and transportation improvements might have to be addressed.
Tyrone Borough is seeking $650,000 through the state Department of Community and Economic Development to help it acquire the properties and have them demolished. The money is being sought through a housing and rehab assistance program available to municipalities in an effort to remove blighted properties from a community. The borough still needs to acquire the funding and win the agreement of the affected property owners to sell their property before the project can move forward.
Miller said these steps are just part of what needs done to make the site “shovel ready.” If the DCED funding is approved, ABCD would then take further steps to secure a planning grant and make further requests for a combination of loans and grants to secure the rest of the money needed to acquire and demolish the buildings and have the site ready for the developer to begin construction on the hotel.
Miller said he couldn’t be sure if and when the Pennsylvania Financing Authority would approved the $31,000 grant since the program the money is being requested from is new. He said there is “no track” record for what types of projects are approved or how soon such projects are approved under the program.
Miller also noted his agency is working on behalf of the Borough of Tyrone and not the developer.
