Press release from the office of State Sen. Jim Ferlo (D-Pittsburgh): Sen. Jim Ferlo today announced nearly $450,000 in funding from the Commonwealth Financing Authority (CFA) for two local projects. Trek Development Group, Inc. in Pittsburgh’s Hill District was awarded a low-interest loan in the amount of $273,872 and the East End Cooperative Ministry in Pittsburgh received a $175,000 grant.
“In tough economic times, any source of funding to improve energy efficiency or economic development is a great help,” Ferlo said. “Both of these worthwhile projects in my district have dedicated themselves to renewable and clean energy and are very deserving of this state funding.”
The East End Cooperative Ministry will use the grant to conduct a geothermal feasibility study for five buildings located at Penn Circle North and Penn Circle East in Pittsburgh. Trek Development Group, Inc. will use the CFA funding to continue development of an affordable housing project, Dinwittie Phase I, where they plan to install a geothermal heating and cooling loop system to provide low cost energy to residents.
The Commonwealth Financing Authority (CFA) was established as an independent agency of the Commonwealth to administer Pennsylvania’s economic stimulus packages.