Apr. 22, 2022
– Rep. R. Lee James (Venango/Butler) announced today that $500,000 in state funding, from the Redevelopment Assistance Capital Program (RACP), was awarded to Oil City to continue ongoing revitalization efforts.
“Any time we have an opportunity to grow in the 64th District, it is important we do so by using all available resources,” James said. “I am grateful this program exists so we can continue to grow the district I am very honored to represent.”
The following entities were awarded funding:
Venango County Economic Development Authority: $250,000
The Colonel Drake Alliance Inc.: $250,000
The Venango County Economic Development Authority is currently in phase three of its Cornplanter Square project. The plan looks to complete fit and finish of the basement, first floor and second floor balcony; install a new 3,000-amp electrical service along with new HVAC, plumbing and fire suppression systems; and construct a shared commercial kitchen space and a common seating area among other improvements.
The historical Lyric Theatre project, led by The Colonel Drake Cultural Alliance, will repair the theatre’s interior and exterior; upgrade the auditorium to include stage and dressing rooms, a spacious lobby, expanded gallery and exhibition space and ADA-compliant restrooms; and install a new sprinkler system, emergency ramp and exit, fire alarm, emergency lighting, security system and filtered HVAC.
Funding for the project was authorized by lawmakers in the Capital Budget Project Itemization Act.
RACP is a Commonwealth grant program administered by the Office of the Budget for the acquisition and construction of regional economic, cultural, civic, recreational and historical improvement projects. These projects have a regional or multi-jurisdictional impact and generate substantial increases or maintain current levels of employment, tax revenues or other measures of economic activity. RACP projects are funded by the state and cannot obtain primary funding under other state programs.