Cozen O’Connor: The New Landscape of Public Subsidy for Development

The New Landscape of Public Subsidy for Development

Wednesday, March 7, 2018

Jeffrey Mills, a member of Cozen O'Connor's Real Estate Practice Group, discussed with Developing Pittsburgh about the use of public grants and loan assistance to make private development feasible through public/private partnerships (P3). Jeff discussed two projects that reflect the changing landscape. "Clarion County, the borough and the school district provided Tax Increment Financing (TIF) to do 100 percent of the project. We closed on the TIF in February," Mills reports. "But we were able to leverage the TIF into the Business In Our Sites (BIOS) funding. PA awarded a $4.5 million BIOS loan and also awarded a $1.1 million BIOS grant," Mills added. 

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Jeffrey A. Mills

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jmills@cozen.com

(412) 620-6484

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