$13M to improve Philly commercial corridors

February 8, 2009 2:32:51 PM PST
Two programs will direct $13 million to improve commercial corridors in Philadelphia neighborhoods. One program announced Sunday by Mayor Michael Nutter is $1 million from bonds sold in 2007 to improve the appearance of storefronts. The blocks getting the grants are to be selected for their potential for improvement in the surrounding neighborhoods. The mayor's office says it won't affect the city's general fund.

Another program allows the city to allocate $12 million in federal tax credits for construction projects in blighted areas. The tax credits are expected to leverage about $56 million in private construction.

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