Small Business Community Development Lending: Hearing Before the Subcommittee on Economic Development, Marketing, and the Family Farmer of the Select Committee on Small Business, United States Senate, Ninety-fifth Congress, Second Session ... January 23, 1978

Front Cover
 

What people are saying - Write a review

We haven't found any reviews in the usual places.

Other editions - View all

Common terms and phrases

Popular passages

Page 37 - All I want to say is that it seems to me that we ought to seek to extend private sector lending to its natural limit.
Page 40 - These proposals are being evaluated in cooperation with the Department of Housing and Urban Development and the Economic Development Administration of the Department of Commerce. A project entitled "The Changing Structure of Agropolis...
Page 11 - In order to consider my remarks in a proper context, it may be useful to explain the operations of my agency. Since its creation in 1958, the Philadelphia Industrial Development Corporation has served as a national model for industrial development agencies because of its success in promoting the retention and growth of industry in Philadelphia. During the past several years, PI DC has broadened Its role beyond the traditional Industrial development function from which it derives Its name to become...
Page 16 - SI million up to a maximum of $5 million, the interest on which Is exempted from Federal income taxes only If the capital expenditures (including the project) of the principal user of the facility within Philadelphia does not exceed $5 million during a six year period starting three years before the Issue and ending three years after. There are certain exceptions to the maximum limitation (as for example, pollution control equipment). PAID Is governed by a five member Board appointed by the Mayor...
Page 17 - Through the PI DA program, a conventional first mortgage is created for 50 percent of the cost of a company's project. PIDA then lends up to 50 percent of the project cost on a second mortgage through PIDC-FC. PIDA financing is available for terms up to 25 years at a rate of 4 percent. Since PIDC had never pledged its general credit or assumed any liability for a transaction and PI DA requires both, it was decided to use a separate vehicle for PI DA transactions.
Page 12 - Phi ladelpnia's famous Food Distribution Center, a growing role as a consultant to other local development organizations, and an expanding commitment to marketing and advertising on a regional and national scale.
Page 18 - Title lX of the Economic Development Administration of the US Department of Commerce. This is a very promising program, however, the amount of the fund is quite...
Page 16 - Philadelphia does not exceed $5 million during a six year period starting three years before the Issue and ending three years after. There are certain exceptions to the maximum limitation (as for example, pollution control equipment). PAID Is governed by a five member Board appointed by the Mayor of Philadelphia. Since the Authority has no operating funds and no staff, PIDC performs the management functions of PAID in accordance with a Management Agreement. Using PAID financing, PIDC has participated...
Page 11 - Corporation (PIDC) has served as a national model for industrial development agencies because of its success in promoting the retention and growth of industry in Philadelphia. During the past few years, PIDC has broadened its role beyond the traditional industrial development function from which it derives its name to become an overall economic development vehicle for the city. In expanding its activities into new sectors of the city's economy and new phases of the development process...
Page 13 - DC acts as a liaison between business and government, dealing with the appropriate governmental agencies in matters relating to urban renewal, zoning, streets, water, sewers, building codes and other public services.

Bibliographic information