Programs and Funding Sources
Community Infrastructure and Tourism Fund (CITF)
Community Infrastructure and Tourism Fund is intended to provide financial assistance to entities to facilitate economic development through infrastructure assistance, stabilize or correct existing infrastructure or plan and prepare sites and buildings for future use.
Grant and Loan Application
Redevelopment Authority of Allegheny County (RAAC)
Gaming Economic Development Fund (GEDF)
The Allegheny County, Gaming Economic Development Fund (GEDF), administered by the Redevelopment Authority of Allegheny County (RAAC), is intended to provide financial assistance to entities to facilitate economic development projects in Allegheny County.
Gaming Economic Development Fund (GEDF)
Economic Development Fund (EDF)
The Economic Development fund is the County’s $50 million low-interest revolving loan fund that was established in 1995 to create and preserve jobs in the region. This key financing vehicle is designed to assist in the establishment of new industries and the growth of existing businesses to expand the taxable base of properties in Allegheny County. Target sectors include: manufacturing; commercial and commercial service; advanced technology, and retail and retail service. EDF loans can be secured in three ways: fixed asset financing up to 40 percent of total eligible project costs not to exceed $100,000; operating funds financing up to 40 percent of total project costs not to exceed $50,000; fixed asset and operating funds financing combining a maximum of 40 percent of total project costs not to exceed $100,000, inclusive of operating funds, with operating funds not exceeding $50,000.
Redevelopment Authority of Allegheny County (RAAC)
Tax Increment Financing (TIF)
With our unique financing capabilities, ACED’s Authorities can create Tax Increment Financing (TIF) Districts, where a portion of the taxes from new development is used to retire debt. TIF plans finance public infrastructure improvements that allow redevelopment activities to take place. A portion of the new assessed value of the property creates new tax revenues that are used to pay off debt issued to finance the improvements. TIF Districts are utilized to provide public infrastructure improvements necessary to facilitate redevelopment activities. All TIF districts are collaborative efforts involving municipalities and school districts as well as the County.
Redevelopment Authority of Allegheny County (RAAC)
Allegheny First-Time Homebuyer Program
The Allegheny County Residential Finance Authority (ACRFA) offers low-interest (5.90% with 1 1/2 points or 6.15% with no points effective 7/29/06), 30-year, fixed-rate mortgages through the 2006 Single-Family Mortgage Revenue Bond Program. The program provides more than $14 million for eligible first-time homebuyers who are residents of Allegheny County.
To learn more about this valuable financing vehicle, click on any or all of the three key program aspects:
Allegheny County Residential Finance Authority (ACRFA)
Capital and Equipment Program
Eligible activities include the purchase and/or installation of traffic signal systems, playground equipment and computers. Also eligible are the purchase and/or rehabilitation of police cruisers, backhoes and fire trucks.
- Loans up to $100,000
- Loan terms up to five years or the life expectancy of the motorized equipment
Authority for Improvements in Municipalities (AIM)
Capital Infrastructure Loan Program
Eligible activities include construction of storm and sanitary sewers, waterlines, roads, retaining walls, bridges and related infrastructure.
- Loans up to $75,000
- Loan terms up to five years
- Loans may be used to fund 100 percent of project costs, including engineering and legal fees.
Authority for Improvements in Municipalities (AIM)
Tax-Exempt Bank Qualified Program
This vehicle is specifically for 501C(3) organizations that have smaller capital needs but still require access to tax-exempt financing. This program offers:
- Lower interest rates than typical conventional bank loans
- Reduced closing fees
- Refinancing of existing taxable debt
- Capital projects including land acquisition, construction of new facilities, equipment purchases and renovations of existing structures.
Authority for Improvements in Municipalities (AIM)
Tax-Exempt Financing
The Authorities Division offers dynamic tax-exempt financing programs that enable borrowers to fund large-scale projects in a timely, cost-effective manner. The funding covers a broad variety of uses, typically with longer repayment terms and lower interest rates than generally are available. That makes ACED’s tax-exempt financing a unique resource.
Tax-Exempt Financing