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Wednesday, December 22, 2010

Rendell's final gifts to Philadelphia

As a parting gift to Philadelphia that future Pennsylvania taxpayers can pay for, Gov. Rendell's office has sent good news to 42 city companies, agencies and developers: They've been approved, in recent months, to apply for an additional $275 million in state funds, under the Redevelopment Assistance Capital Program, funded by state bond issues.

Other letters are going out to scores more projects across the state as Rendell awaits replacement by GOP Gov.-elect Tom Corbett.

Among the latest Philadelphia projects which have been told to submit their required paperwork (most have already sent the papers, according to city records):

- $20 million for the National Center for the American Revolution
- $20 million for Drexel University and its business school, $10 million for Thomas Jefferson University, $10 million for the Art Museum.
- $15.5 million to rebuild Dilworth Plaza west of City Hall
- $13 million for the Wistar Institute, the anatomy and drug research center in West Philadelphia
- $12 million for the former Tasty Baking Co. site redevelopment project in North Philadelphia
- $10 milion for a planned development at 2116 Chestnut St.
- $9 million for develoepr Ron Rubin's Gallery at Market East, and $7.5 million more for a "Pavilion at Market East"
- $8 million for the Fox Chase Cancer Center
- $7 million for the Franklin Place development at 401 Race St.
- $6 million for the William Way Lesbian Gay Bisexual and Transgendered Community Center
- $5 million for the Norris Square Civic Association, which plans to rebuild the former St. Boniface parish property into a community center
- $3 million for an unnamed "Convention Center Hotel," perhaps the one projected by developer Dennis Maloomian, who's in line for millions more for his latest King of Prussia shopping center
- $2.5 million for Teva Pharmaceuticals, the Israeli knockoff drug company that plans a new building in Northeast Philadelphia. Teva earned $2 billion (with a B) in profits last year.
- $2 million for the controversial Sen. Arlen Specter Library, and $2 milion more for the Schmidts Headhouse out near Bart Blatstein's Piazza at Schmidt's development
- And many millions more.
Posted by Joseph N. DiStefano @ 4:54 PM  Permalink | 4 comments
Comments   
  • 1 like this / 0 don't   •   Posted 5:52 PM, 12/22/2010
    I really hope that funds for Wayne Junction are included here. With the train station languishing so awfully, the area would have a hard time justifying the transit-oriented development plan to private money. That area could be a real home run, especially for Temple students who could easily take the train to campus.
    — NickFromGermantown
  • 0 like this / 0 don't   •   Posted 5:59 PM, 12/22/2010
    Thanx Fast Eddie.......
    — doowaditty
  • 0 like this / 0 don't   •   Posted 6:19 PM, 12/22/2010
    This isn't just Rendell. With Corbett's money men being appointed to high level positions, he's getting ready to feed at the teat. You are a naive child if you think any differently. Glad to see Teva, with 2B in profits last year, needs 2.5m of my money to build a new building.
    — CiceroSpuriousDeodatus
  • 0 like this / 0 don't   •   Posted 6:42 PM, 12/22/2010
    Plus college tuitions for my girls!
    — James


4 comments
About Joseph N. DiStefano
Joseph N. DiStefano writes this blog to feed his PhillyDeals column in the Philadelphia Inquirer. Joe has been a member of Bloomberg LP’s New York Finance Team, wrote the book “Comcasted,” taught writing at St. Joseph’s University, and studied economics and history at Penn. Reach Joe at 215-854-5194 and JoeD@phillynews.com
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