Robbins, Wilt Announce $600,000 in Aid for
Greenville Financial Recovery
Harrisburg – Greenville Borough has been approved to receive
$600,000 in state aid to support its financial recovery efforts, state
Senator Bob Robbins (R-50) and Representative Rod Wilt (R-17)
announced today.
Greenville was recently declared a Financially Distressed
Municipality, qualifying it for state assistance. The aid is in the
form of a $200,000 grant and a $400,000 loan, the legislators said.
"It is crucial for the borough and state to work together to get
Greenville back on sound financial footing," said Robbins. "The
citizens of Greenville should know that while the borough must take
the lead, the state is also ready to lend a helping hand."
The $200,000 grant will be used to pay for development of a
financial recovery plan. The state retained Resource Development &
Management, Inc. to develop a plan, as mandated by Pennsylvania Act
47.
The $400,000 loan will be used to restore funds to the borough's
capital bond fund. The term of the no-interest loan is 10 years.
"Act 47 mandates the steps the borough must take to warrant state
assistance," said Wilt. "If the borough can meet its obligations, the
Commonwealth will help it develop a recovery plan that will allow it
to turn the corner and regain its financial health."
The funding was approved by the state Department of Community and
Economic Development.
CONTACT: Mike Hengst (717) 787-1322
