Pa.'s Gov. Tom Wolf Announces Pipeline Investment Program
📅 Wed November 30, 2016 - Northeast Edition #24
Pennsylvania Governor Tom Wolf announced the opening of a new Pipeline Investment Program (PIPE) on Nov. 1, 2016. PIPE is administered by Pennsylvania's Commonwealth Financing Authority (CFA) and is now accepting applications. The program will offer up to $24 million of total funding to make natural gas available to Pennsylvania residents, manufacturers and pad-ready sites.
Grants will be available for up to $1 million per applicant for pipeline project expenses, with the applicants providing at least 50 percent matching funds of the total project. Such qualifying expenses include construction; acquisition of land, rights of way and easements; land clearing and preparation; engineering, design and inspection costs; administrative costs, such as advertising, legal and documented staff expenses of the applicant to administer the grant; and project contingencies associated with the construction project up to 5 percent of the actual construction costs.
Non-qualifying expenses include fees for securing other financing, interest on borrowed funds, refinancing of existing debt, lobbying, fines, application preparation fees and costs incurred prior to the approval of PIPE grant funds.
Eligible applicants include businesses, economic development organizations, hospitals, municipalities and school districts. There is a nonrefundable $100 application fee, and the first PIPE approvals are expected to be in early 2017.
For more information, visit http://dced.pa.gov/programs/pipeline-investment-program.