Stroudsburg, PA – Department of Community and Economic Development Secretary Dennis Davin announced on May 25, 2021 dozens of new project approvals through the Commonwealth Financing Authority (CFA) from the Local Share Account (LSA) Monroe and the LSA Northampton and Lehigh programs. The projects will support community development initiatives in Carbon, Lackawanna, Lehigh, Monroe, Northampton, Pike, and Wayne counties.
“The Local Share Account programs help communities improve operations and infrastructure, enhance quality of life, and purchase necessary equipment,” said Sec. Davin. “The projects approved today will prove beneficial to residents and businesses in seven counties, with impacts that will last for decades to come.”
Monroe County Industrial Development Authority (MCIDA) is an eligible applicant for LSA funding and had 16 projects approved in this round for a total of $2,362,992.
“We have been involved with the LSA application process since the program started 12 years ago and over the years have administered 134 projects totaling $46.5 million,” commented Chuck Leonard, MCIDA Executive Director. “We appreciate the ongoing support of our elected officials and are pleased with the approvals we received.”
The LSAs were established under the CFA as part of Act 71, known as the PA Race Horse Development and Gaming Act. The act enables the CFA to use gaming funds to provide funds for public interest, community improvement, and economic development projects in the county. LSA Monroe allows for funding in Monroe from fees from Mount Airy Casino Resort. Under state law, licensed gaming facilities are assessed a fee to support and enhance their host communities and mitigate the impact of gaming. Funds in the account are generated by licensed gaming facilities operating in the state.
The approved 2021 MCIDA projects are:
The application period for the Local Share Account for Monroe County grants happens annually from July 1 to September 30. Information on how to apply is available here: https://www.pmedc.com/about-us/services/local-share-account-monroe-county-grant-program/ and questions can be directed to Michelle Bisbing at (570) 839-1992 ext. 4 or email at email@example.com
MCIDA, a sister organization to Pocono Mountains Economic Development Corporation (PMEDC), is a public authority that provides economic development services in Monroe County, PA and is supported in part by the Monroe County Commissioners. More information can be found at www.pmedc.com