Featured – Page 24 – SEDA Council of Governments

Sports center built with SEDA-COG and Juniata Valley Bank partnership

Posted on July 13, 2020 by DNS Admin

STATE COLLEGE – An entrepreneur’s dream of building a sports facility became reality thanks to a loan partnership with SEDA-Council of Governments (SEDA-COG) and Juniata Valley Bank.

The agency and bank partnered with owner Michael Lee to help fund the creation of Nittany Valley Sports Centre at 177 Champion Dr. Investment partners also helped finance the project. This created six full-time jobs and 10 to 20 part-time jobs, depending on the time of year.

“I’m excited to offer this opportunity for kids and everyone to play sports – that’s important,” Lee said.

The indoor sports and multipurpose facility has offerings for almost every occasion. The area’s competitive and recreational soccer organizations use it to participate in leagues, training, and facility rentals. The Centre offers athletic training through a Parisi Speed School franchise, along with sports clinics, sports tournaments, and summer youth sports camps. The Centre is available for other sports and non-sport activity rentals such as summer camps, birthday parties, school rentals, preschool programming, and more.

While Lee was an architectural engineer by education and trade, he came to realize it wasn’t his passion. After taking his daughter to a gymnastics competition in a large indoor sports facility, he saw the variety and opportunity a sports center offers.

“I thought, why doesn’t State College have a place like this? I asked around, and people said the area has needed a place like this for years. So, I hired a consultant to do a market study which showed it could support this,” Lee said.

However, because of the scale of the project and Lee’s lack of experience in that arena, banks were reluctant to fund the project alone. SEDA-COG bridges that gap and helps to spread the risk by offering various loans in addition to traditional lender financing.

John Reichard, SEDA-COG loan officer, said SEDA-COG was pleased to help make Lee’s project come to fruition.

“Michael faced many challenges to bring this project to reality since he first envisioned it. We were thrilled to bring a solution to the table to help him overcome some financing obstacles. His persistence and optimism are the hallmark of his success,” Reichard said. “Juniata Valley Bank was a fantastic partner in this project, as well.”

SEDA-COG secured a $2.4 million U.S. Small Business Administration (SBA) 504 loan which offers low down-payments, long terms, and fixed rates. Juniata Valley Bank financed the project with a $4 million loan.

“This made the bank more favorable toward loaning to the overall project cost. That’s the reality – we couldn’t have done it without the SBA component and SEDA-COG. SEDA-COG exists to make it easier, and they did,” Lee said.

Fred Wallace, bank vice president relationship manager, said it was an exciting project and are proud project partners.

“We are excited to be partners with Michael on his journey; we believe in the project. We’re thrilled to see that it’s taken off and running,” Wallace said. “Our partnership with SEDA-COG was first rate; we appreciate all the time and effort that John Reichard put into this project, not only with Michael, but also with us. We look forward to having a long-term relationship with Michael and SEDA-COG.”

The Centre opened in February 2019 and Lee is building a second phase addition that will support in-house basketball and volleyball, as well as a wide range of events including sports tournaments, trade shows, conventions, and more. This phase is funded by a state grant and is expected to open in November.

While Lee is from Vermont, he attended Penn State University and moved to State College permanently in 1998.

For more information about Nittany Valley Sports Centre, visit www.thecentrepa.com.

The SEDA-COG Local Development Corporation, located in Lewisburg, is a Certified Development Company providing SBA 504 loans throughout the state of Pennsylvania. For more information, visit www.sedacogldc.org, email sba@seda-cog.org, or call 570-524-4491 and ask for the Business Finance Department.

Information Box:

SBA 504 loans: Long-term, fixed-rate financing to acquire fixed assets for expansion or modernization or to refinance existing real estate or equipment debt.

Benefits of SBA 504 loans:

- · Long-term, fixed-rate financing (10 years for equipment and 20 or 25 years for real estate)
- · Lower down-payment vs. conventional financing (as low as 10 percent for existing businesses)
- · Financing up to 40 percent of eligible costs (land and building purchase, building construction, building renovations, equipment, refinancing of real estate or equipment debt)
- · Loan is fully amortized (no balloon payment)

Eligibility: For-profit businesses with a net worth less than $15 million and net income less than $5 million.

Railroad crossing in Mount Carmel to be closed for construction

Posted on July 8, 2020 by DNS Admin

A portion of Route 54 (Locust Gap Highway) in Mount Carmel Township will be closed to traffic for railroad crossing work from July 15 to 22.

The existing crossing is deteriorated, and the SEDA-COG Joint Rail Authority (JRA) and its private operator, Shamokin Valley Railroad, will replace it with a new concrete grade crossing.

Motorists can expect Route 54 to be closed between the intersection of Brennan’s Farm Road and Locust Gap Highway and the intersection of Route 54 with Route 901 in Mount Carmel Township.

Motorists will be directed to a detour using Routes 901 and 61. Motorists are urged to slow down, be alert, and expect delays in travel.

Jannotti Rail Consulting Inc. of Russell is the track engineer and K.W. REESE of Mercersburg is the contractor. The SEDA-COG JRA owns the track and Shamokin Valley Railroad is the operator.

The SEDA-COG JRA was formed in 1983 by the forward-looking efforts of its eight member counties to save rail lines and service abandoned by Conrail. The JRA’s public-private partnership was recognized by the World Bank as a model for public-private partnerships to stimulate rural economic development. Since 2004, the JRA has invested or leveraged over $46 million in rail capital projects with over 40 public and private partners. For more information, visit www.sedacograil.org.

Funds available for limited time for heating unit repairs. Residents can get no-cost repairs through SEDA-COG

Posted on June 29, 2020 by DNS Admin

SEDA-Council of Governments (SEDA-COG) is reminding residents that CARES funds to repair or replace their home heating units are available through Aug. 31 or until funds are spent.

This service is available to income-qualifying residents in Columbia, Juniata, Mifflin, Montour, Perry, Snyder, and Union counties because of the COVID-19 pandemic.

Mandy Fox, chief of SEDA-COG’s Weatherization program, said there are still funds left and urged residents to apply.

“Many people are facing financial hardships right now, and we want to let people know these funds are still available. Because it’s summer, many people aren’t thinking about repairing or replacing their heating units, but it’s the perfect time to do repairs since the funds are available and it’s warm out,” Fox said.

For those whose heat source is malfunctioning, they should call their county assistance office. The county assistance office will forward the completed referral to SEDA-COG to assign to a subcontractor.

SEDA-COG and its subcontractors will follow Centers for Disease and Control and Prevention (CDC) guidelines and use the proper Personal Protection Equipment (PPE) during home visits. SEDA-COG asks those who have been sick, have symptoms or have been in contact with someone diagnosed with COVID-19 that they reschedule their appointments.

COUNTY ASSISTANCE OFFICES

Columbia: 570-387-4200
Juniata: 717-436-2158
Mifflin: 717-248-6746
Montour: 570-275-7430
Perry: 1-800-991-1929
Snyder: 570-374-8126
Union: 570-524-2201

For more information on the recovery program, call SEDA-COG’s Christine Bohart at 570-522-7219 or visit https://bit.ly/2WV26pJ.

Lock Haven residents may receive no-cost home repairs Helps residents and general contractors

Posted on June 17, 2020 by DNS Admin

The City of Lock Haven may be awarded a $500,000 housing rehabilitation grant early next year, and city residents are encouraged to apply now to get on the waiting list to receive no-cost home repairs. Local general contractors will perform the work.

Homeowners may be eligible to receive up to $65,000 in home improvements.

Eligible repairs include structural, roofing, plumbing, electrical, heating/furnace, window replacement, radon and lead-based paint mitigation, and energy-related improvements. Also included are modifications for mobility-impaired residents. There is no cost to homeowners who maintain home residency over a five-year period from the date of signing.

Homeowners can go through the process hassle-free with SEDA-Council of Governments (SEDA-COG) managing it from start to finish, said Teri Provost, director of the agency’s Housing Rehabilitation program.

“We manage the process on behalf of the homeowner so they don’t have to worry about it, including obtaining the contractor and seeing the project through to completion,” Provost said.

SEDA-COG manages and administers the program on behalf of the city; the city is the grant applicant, pursuing the funds on behalf of its residents.

This also presents an opportunity for general contractors who want to perform housing rehabilitation work in the area.

“COVID-19 has hit everyone hard, and our housing rehabilitation program helps both residents and the local workforce by providing no-cost home repairs from local contractors. This puts money directly back into people’s wallets and helps rebuild our economy,” Provost said.

Benefits to contractors include timely payments, year-round work, and multiple work locations/flexibility. Housing rehabilitation bids typically range from $20,000 to $65,000.

Interested homeowners may contact SEDA-COG’s Stacy Anderson to join the wait list at 800-326-9310 or sanderson@seda-cog.org. Contractors may contact SEDA-COG’s Danielle King at 570-524-4491 ext. 7325 or dking@seda-cog.org.

Qualifications:

· Own the home or have Life Rights to live in it;
· Meet income qualifications based on household size;
· Be current on local taxes and municipal utility bills;
· Provide proof of homeowner’s insurance;
· Live in the home an additional five years.

Additional requirements may apply.

Annual Gross Income Limits:
Family size: 1 – $35,400; 2 – $40,450; 3 – $45,500; 4 – $50,550; 5 – $54,600; 6 – $58,650; 7 – $62,700; 8 – $66,750.