Borough Council Approves $2.5 Million
MTF Grant Application
March 2, 2018
The Sinking Spring Borough Council, at its March 1, 2018 meeting, approved the submission of a $2.5 Million dollar grant application request to the PA DCED Multimodal Transportation Fund program.
Sam Loth, Coordinator for the BOSS 2020 Revitalization Committee made the request explaining that there was a rare opportunity to submit an application without the need for the Borough to provide a 30% cash match for funding requested from the program.
The Borough was awarded $1.1 Million dollars in 2016 to construct the western half of the New Columbia Extension, a new Borough roadway that will run parallel to Penn Avenue on the south side in order to create a “Main Street” that would be the basis for a new downtown central business district.
Sam Loth explained that, because there is no cash match requirement in this round of funding for the program, the Borough can request funds to first, acquire Krick Avenue properties necessary to build the new roadway and second, request funding toward the construction of the eastern half of the New Columbia Extension.
If the State awards the request, the Borough will be able to realize its goal to open up over 20 acres of central business district land that cannot be accessed at this time. The estimated cost of acquiring the remaining Krick Avenue properties is close to $3 Million dollars and the cost to build the eastern half of the new thoroughfare is $1.25 Million. The Borough will request $2.5 Million which still leaves a $1.75 Million gap to be filled.
Nevertheless, the BOSS 2020 Revitalization Committee believes strongly that the opportunity exists now to make a huge leap forward in closing this last portion of the Crossroads Infrastructure Redevelopment Project in order to create a New Town Center.
Once the infrastructure is renewed, the BOSS Committee can market the acreage to developers. A New Town Center for Sinking Spring can bring over $60 Million dollars in private/public redevelopment in a mixed use, multi-story combination of retail, residences, entertainment and professional space linked to a multimodal transportation hub serving all of central and western Berks County.