PIDC-LOCAL DEVELOPMENT CORPORATION

SUPPORT GROWTH & RESILIENCE OF BUSINESSES AND DEVELOPERS: PIDC-LDC INVESTS FLEXIBLE, AFFORDABLE CAPITAL IN GROWING LOCAL BUSINESSESTHE BACKBONE OF OUR ECONOMYBECAUSE THEY CREATE JOBS, BUILD WEALTH FOR ENTREPRENEURS, AND STABILIZE NEIGHBORHOODS. PIDC-LDC ALSO SUPPORTS DEVELOPERS IN FINANCING COMMUNITY-ORIENTED PROJECTS. THROUGH A VARIETY OF FUNDING RESOURCES, EDUCATIONAL PROGRAMS, AND ONE-ON-ONE TECHNICAL SUPPORT, PIDC-LDC FILLS CRITICAL GAPS FOR BUSINESS OWNERS AND NONPROFIT LEADERS WHO LACK ACCESS TO TRADITIONAL CAPITAL. IN ADDITION, PIDC-LDC SUPPORTS DEVELOPERS PRODUCING TRANSFORMATIVE PROJECTS THAT HAVE A POSITIVE, LASTING IMPACT ACROSS THE CITYPROVIDING JOBS, SERVICES, AND AMENITIES.IN 2023, PIDC ORIGINATED $57.5 MILLION IN NEW LOANS TO 69 SMALL AND MID-SIZED BUSINESSES, NONPROFITS, AND DEVELOPERS THROUGH CATALYTIC PROJECTS IN NEIGHBORHOODS IN PHILADELPHIA. $35.6 MILLION WAS INVESTED IN MINORITY BUSINESSES. $11.5 MILLION WAS INVESTED IN WOMEN-OWNED BUSINESSES. 62% OF ALL PIDC CORE LENDING WENT TO DIVERSE/MINORITY BUSINESS ENTERPRISES. PIDC- LDC PROVIDES FINANCING SOLUTIONS FOR SMALL BUSINESSES AND NONPROFITS SEEKING TO PURCHASE NEW OR REAL ESTATE TO BUILD WEALTH, LIMIT DISPLACEMENT, AND SUPPORT LONG-TERM GROWTH IN PHILADELPHIA.

INVESTING IN HIGH IMPACT REVITALIZATION: PIDC-LDC PLAYS A CRITICAL ROLE AS A TRUSTED CONDUIT TO INCREASE ACCESS, REDUCE COMPLEXITY, AND SUCCESSFULLY DELIVER ECONOMIC DEVELOPMENT RESOURCES FROM OUR PARTNERS TO A BROAD RANGE OF CLIENTS TO SUPPORT HIGH IMPACT COMMUNITY REVITALIZATION PROJECTS IN PHILADELPHIA. PIDC-LDC STRUCTURES AND DEPLOYS PUBLIC AND PRIVATE CAPITAL FOR CLIENTS AND PROJECTS BY ADMINISTERING GRANT PROGRAMS ON BEHALF OF THE CITY AND COMMONWEALTH AND ISSUING TAX-EXEMPT BONDS TO HELP NONPROFITS RAISE PRIVATE CAPITAL FOR MAJOR PROJECTS. IN 2023, PIDC ADMINISTERED 126 GRANTS TOTALING $73 MILLION FOR PROJECTS ON BEHALF OF THE COMMONWEALTH OF PENNSYLVANIA, CITY OF PHILADELPHIA, AND THE PHILADELPHIA WATER DEPARTMENT. DURING 2023, PIDC-LDC CONTINUED ITS ADMINISTRATION OF THE PHILADELPHIA WATER DEPARTMENT GREEN INFRASTRUCTURE GRANT, WHICH PROVIDES FUNDS FOR THE DESIGN AND CONSTRUCTION OF STORMWATER RETROFIT PROJECTS ON COMMERCIAL, INDUSTRIAL, MULTIFAMILY, AND INSTITUTIONAL PROPERTIES. IN 2023, PIDC STRUCTURED AND FACILITATED A STORMWATER MANAGEMENT PROJECT IN PHILADELPHIA FOR THE CHOCOLATE FACTORY @2201 MARGARET STREET. THE RUGGIERO PLANTE LAND DESIGN, LLC, A MULTI-DISCIPLINE WOMAN-OWNED CONSULTING FIRM THAT PROVIDES ENGINEERING, DESIGN, AND PLANNING SERVICES REQUIRED FOR SUCCESSFUL LAND DEVELOPMENT, AND SISTER COMPANY STORMWATER SOLUTIONS, LLC PROVIDED CONSTRUCTION SERVICES INCLUDING MAINTENANCE OF HUNDREDS OF STORMWATER SYSTEMS THROUGHOUT THE PHILADELPHIA REGION. THE 2.25-ACRE SITE AT 2201 MARGARET STREET IN FRANKFORD IS HISTORICALLY SIGNIFICANT AS IT WAS BUILT IN THE EARLY 1900'S TO SERVE AS A PLANT FOR THE BLUMENTHAL BROTHERS CHOCOLATE FACTORY. THE EXISTING BUILDING HAS BEEN RESTORED BY D3 DEVELOPMENT. RUGGIERO PLANTE LAND DESIGN, LLC INSTALLED A SUBSURFACE INFILTRATION STORMWATER BASIN TO CAPTURE AND TREAT STORMWATER RUNOFF FROM THE SITE. THIS ULTIMATELY WILL IMPROVE WATER QUALITY, ENHANCE GROUNDWATER RECHARGE, AND REDUCE THE BURDEN ON CITY SEWER INFRASTRUCTURE BY REDUCING FLOW IN THE PUBLIC SEWER CONVEYANCE SYSTEM AND REDUCING DEMAND AT THE SEWAGE TREATMENT PLANT.