A $1.5 million grant from the Redevelopment Assistance Capital Program will help fund a major revitalization project for the city of New Castle, state Rep. Chris Sainato, D-Lawrence, announced Thursday.
Sainato said the grant to fund the Enterprise Park-City of New Castle project will help finance work to renovate the former Lockley Building and create approximately 42,000 square feet of additional warehousing and service space. A community revitalization component of the project will improve access to business facilities and create an additional parcel for development in Enterprise Park.
“I’m delighted that we were successful in our efforts to help secure this funding,” Sainato said. “All of the work planned – the demolition of blighted properties, acquisition and repurposing of underused facilities, and new building construction – will open the door to new jobs, new businesses, and new economic activity for our region. This work is truly going to transform the landscape, and I’m looking forward to seeing it take shape.”
Sainato noted that in addition to building demolition, renovation and construction work, the project will include related site work involving storm water management, utility extensions, site paving, and numerous roadway improvements and intersection upgrades, among other improvements.
The Lawrence County Economic Development Corporation was the applicant on the project.
RACP is administered by the Office of the Budget for the acquisition and construction of regional economic, cultural, civic, recreational and historical improvement projects. RACP projects are authorized in the Redevelopment Assistance section of a Capital Budget Itemization Act, have a regional or multi-jurisdictional impact, and generate substantial increases or maintain current levels of employment, tax revenues or other measures of economic activity.