Scranton, PA – Lackawanna County Commissioners Michael J. Washo, Corey D. O’Brien and A.J. Munchak today initiated a program designed to create jobs and stimulate new construction by offering over $10 million in low-interest, federal stimulus Recovery Zone Bonds to fund public and private improvement projects.

Lackawanna County was allocated $6.16 million in Recovery Zone Facility Bonds for private capital improvement projects and $4.1 million in Recovery Zone Economic Development Bonds for public infrastructure and facilities projects. The bonds were created by the American Recovery and Reinvestment Act of 2009. Projects must be located in a Recovery Zone, which is an area suffering from high poverty, unemployment, home foreclosures or general distress.

The Commissioners today designated Lackawanna County as a Recovery Zone. In addition, the Lackawanna County Redevelopment Authority was named to administer the program.

“The bond program is an important new tool in our economic development toolbox to assist in the economic revitalization of Lackawanna County,” Commissioners O’Brien and Washo said.

The deadline to submit applications for the program is July 12, and bonds must be issued by Dec. 31. Certain types of projects, including residential rental real estate, golf courses, country clubs, etc., are not eligible. Lackawanna County will not guarantee the debt service on Recovery Zone Bonds.

Applications and complete program information are available at www.lackawannacounty.org or by contacting Bill Coleman, Lackawanna County Deputy Director for Economic and Community Development, at 570-963-6830.

Important Notice for all Recovery Zone Bond Applicants. Download the following PDF file to view application information.

 Recovery Zone Bond Application Information

 Recovery Zone Economic Development Bonds

 Recovery Zone Facility Bonds

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