DOWNTOWN ALLIANCE RECEIVES DONATION FROM COMMUNITY BANK, N.A.
Community Bank, N.A. presented at $5,000 check to the Downtown Hazleton Alliance for Progress on October 18, 2107. This donation was made as part of a larger DCED (2017-2018) Neighborhood Assistance Program, Special Project Priorities (SPP) tax credit application.
The Alliance will be dedicating the donated program funds to the Phase Two renovation and adaptive reuse of the property located at 13-15 West Broad St., which was vacant for more than a decade and fell into disrepair. Phase One renovations, which are being funded by over $200,000 of 2016-2017 tax credits, are nearing completion. This multiphase project will result in the full rehabilitation of the first floor, which has been identified for use a new small business incubator. The Alliance has been working closely with Penn State Hazleton and Greater Hazleton CAN DO to develop the future plans and programming for the building.
“We are very thankful for the generosity of Community Bank and our other funding partners who believe in this project as a means to help spur economic development and job growth,” said Krista Schneider, Executive Director of the Alliance.
The DCED Neighborhood Assistance tax credit program is designed to encourage private businesses to invest in projects that improve distressed areas. For approved DCED Special Priority Projects (SPP), the tax credit is awarded at 75%. Downtown Hazleton qualifies as a distressed area due to its recent designation as a PA “Main Street” community.
For additional information about this project contact the Downtown Hazleton Alliance for Progress at 570-455-1509, or email Krista Schneider, Executive Director, at firstname.lastname@example.org.
About Community Bank System Inc.
Community Bank System Inc. operates more than 230 customer facilities across Upstate New York, Northeastern Pennsylvania, Vermont and Western Massachusetts through its banking subsidiary, Community Bank N.A. With more than $10 billion in assets, the DeWitt, New York-headquartered company is among the country’s 150 largest financial institutions. In addition to a full range of retail and business banking services, the company offers comprehensive financial planning, insurance and wealth management services. Community Bank System Inc. subsidiaries/business units include OneGroup NY Inc., which provides risk management and commercial insurance, employee benefits and personal lines insurance; Community Bank Wealth Management, which provides investment advisory, personal trust and financial planning services, as well as personal, business and nonprofit portfolio design; and Benefit Plans Administrative Services Inc., which provides actuarial, retirement and VEBA/HRA plan administration, and collective investment fund, employee benefit trust and transfer agency services.
Community Bank System Inc. is listed on the New York Stock Exchange and the company’s stock trades under the symbol “CBU.” For more information about Community Bank, visit communitybankna.com or ir.communitybanksystem.com.