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Through the American Recovery and Reinvestment Act (ARRA),  Recovery Zone Bonds can be used for the purpose of promoting development or other economic activity in a Recovery Zone - which, in Chester County, consists of the 15 Boroughs and the City of Coatesville.
After the first round of applications, approximately $5.5 million of Recovery Zone Bond allocation is still available!
Facility Bonds (private use) - may be used to finance depreciable property actively used in a qualified business within a Recovery Zone, provided the property is acquired after the Recovery Zone designation.
Economic Development Bonds (municipal use) - may be used to finance economic activities, including capital expenditures paid or incurred for property in a Recovery Zone, expenditures for public infrastructure and construction of public facilities and expenditures for job training and educational programs.
For more information, click here and contact Kathy Field with the Chester County Economic Development Council at (610) 458-5700.
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Chester County Board of Commissioners: