EDC Finance Corporation is assisting with the Building PA loan – an important part of the complex financial package used to make the project possible.
Every year, consumers who live in Lancaster’s struggling Southeast spend roughly $100 million, but their money ends up in cash registers elsewhere in Lancaster County and the wider economy.
Conestoga River Plaza, at South Duke and Chesapeake streets, will capture some of those dollars and keep them in the neighborhood.
The shopping center, which could open as soon as January, will feature a locally owned supermarket, a full-service restaurant and four smaller enterprises.
Speaker after speaker Wednesday credited the leadership of Carlos Graupera, the long-time director of the Spanish American Civic Association, for turning his vision for the commercial/ housing complex into a reality.
A complex public-private financial package made Conestoga River Plaza possible. The pieces include $5 million in tax credits through the Community First Fund, $3 million from the City Revitalization & Improvement Zone Authority, and a $1.32-million grant from the U.S. Commerce Department. Fulton Bank is an equity partner.
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