Strategic Investment Guidelines

 

 

REGIONAL CORE INVESTMENT STRATEGY - Provide gap financing that facilitates the development of retail, housing, hotel, office and urban entertainment projects that serve to preserve and strengthen Downtown Pittsburgh and its surrounding neighborhoods.

INDUSTRIAL SITE REUSE AND TECHNOLOGY DEVELOPMENT INVESTMENT STRATEGY - Provide gap financing that enables technology incubator, multi-occupancy industrial, business park and brownfield redevelopment projects that promote business retention, expansion and relocation opportunities. Particular consideration is given to those projects that employ green building practices.

 

General Investment Guidelines

 

 

Projects that ensure preservation of the Fund's capital and provide a target rate of return over the life of the Fund.

Projects whose sponsors are experienced, financially sound and who have established performance records. Sponsors are expected to maintain a meaningful financial investment in the project throughout the course of the Fund's involvement.

Typically, the maximum loan term is limited to ten years, although amortization schedules of up to fifteen years are available as circumstances warrant.

The amount of the Fund's financial participation normally falls between $500,000 and $4,000,000.

Sponsors are encouraged to present detailed business plans early in the financing process. The Fund's early involvement will ensure that project sponsors will have realistic expectations regarding the likelihood of Fund participation and the terms thereof.

 

Project Investment Guidelines

 

Each request received by the Fund is evaluated considering the following characteristics:

Projects that advance one or more of the Program Interests.

Commercial and industrial projects located within the 10 counties that comprise the Southwestern Pennsylvania region.

Retail, housing, hotel, office and urban entertainment projects that contribute to the revitalization of Downtown Pittsburgh and its surrounding neighborhoods.

Projects located in blighted areas and which provide employment or housing opportunities for disadvantaged persons.