Montgomery County, PA

 

The Industrial Development Authority (IDA) has assisted manufacturing firms, nonprofit (501(c)(3) organizations, educational institutions and health care organizations, as well as water treatment plants and pollution control facilities.

The Authority aims to maintain a high level of employment and create and maintain business opportunities.

-Borrowing money from private sector financing institutions

-Loaning this money to Montgomery County companies to finance projects

-Securing below-market interest rates on loans that are tax-exempt to the lender

 

 

To see a list of IDA Board Members, click here.

 

Please give us a call directly and we will be happy to talk to you about the loan.
610-272-1100 and ask for Gerald Birkelbach.

 

 

 

The Meadowood Corporation
Worcester Township

 

The Meadowood Corporation is a continuing care retirement community located on 110 acres of land in Worcester Township.  The company used the proceeds of a $18,060,000 tax-exempt revenue bond through Citizens Bank to refinance various capital improvements including the construction of a new health care facility.  The financing was structured by BB&T Capital Markets.

 

Lakeside Educational Network
Upper Dublin Township

 

Lakeside is a non-profit education and social service agency that provides a variety of programs and services including alternative education, counseling, and rehabilitation. A $2,500,000 tax-exempt note provided by TD Bank, N.A. was used to refinance existing debt and finance a portion of the costs of site preparation.

 

Alcom Printing Group, Inc.
Lower Salford Township

 

Alcom produces a variety of commercial lithographic commercial printing materials including brochures, reports, and direct mail products. The proceeds of a $4,457,000 tax-exempt note through Univest Bank were used to refinance existing debt.

 

 

Acme Corrugated Box Co; Inc.
Upper Moreland Township

 

The project consisted of the refinancing of existing tax-exempt debt and the acquisition of new equipment. Acme Converts fluted corrugated sheets into corrugated shipping containers, displays, and internal packaging. The financing was provided in the form of a tax-exempt note through GE Public Finance.

 

Albert Einstein Healthcare Network
East Norriton Township

 

New Regional Medical Center, a controlled affiliate of the Albert Einstein Healthcare Network used the proceeds of a $309,435,000 tax-exempt bond issue to commence construction on a new acute care hospital.  When completed in the fall of 2012 the five story facility will contain approximately 360,000 square feet of space and 146 acute beds. The bonds were underwritten by Goldman Sachs & Co., and secured by FHA Hospital Mortgage Insurance under the U.S. Department of Housing and Urban Development.

 

Germantown Academy
Whitemarsh Township

 

The project involved renovations to the School’s existing facilities and construction and equipping a new Middle and Upper School. Germantown Academy is a private non-profit college preparatory day school for students in grades pre-kindergarten through twelve. The financing was provided in the form of a tax-exempt note through M & T Bank.

 

Gaudenzia Foundation, Inc.
Norristown Borough

 

Gaudenzia Foundation is a provider of substance abuse, treatment and prevention services. The agency operates over 100 programs across Pennsylvania, Delaware, and Maryland. The project consisted of a $10,500,000 bond issue through the Pennsylvania Economic Development Finance Authority to refinance existing debt.

 

 

 

The proceeds of a $55,000,000 tax-exempt revenue bond issue underwritten by Janney Montgomery Scott and Herbert J. Sim & Co., Inc. was used to refinance existing debt and to fund various capital improvements at facilities located in Montgomery and Delaware Counties. Philadelphia Presbytery Homes, Inc. is a provider of residential, personal care and skilled nursing care services to approximately 1,000 residents annually.

 

The Academy of the New Church
Bryn Athyn Borough

 

The Academy of the New Church operates four accredited private schools. In December 2010 the proceeds of a $9,000,000 tax-exempt revenue note through Wells Fargo Bank, N.A. was used to refinance existing debt that was originally used to finance the construction of new dormitories.

 

The Haverford School
Lower Merion Township

 

The Haverford School is an independent nonsectarian college preparatory school for boys in grades junior kindergarten through twelve. The School used the proceeds of a $30,000,000 tax-exempt revenue note through PNC Bank  to refinance existing tax-exempt debt.

 

The Shipley School
Lower Merion Township

 

The proceeds of a $30,000,000 tax-exempt revenue note through Citizens Bank was used to refinance existing debt and to finance various capital improvements including the resurfacing of two existing playing fields and the construction of a new parking garage.  Shipley provides a private education for students in grades kindergarten through twelve.