PIDC LOCAL DEVELOPMENT CORPORATION

Investing in high impact revitalization: pidc-ldc plays a critical role as a trusted conduit to increase access, reduce complexity, and successfully deliver economic development resources from our partners to a broad range of clients to support high impact community revitalization projects in philadelphia. Pidc-ldc structures and deploys public and private capital for clients and projects by administering grant programs on behalf of the city and commonwealth and issuing tax-exempt bonds to help nonprofits raise private capital for major projects. In 2024, pidc administered 186 grants totaling $163.5 million for projects on behalf of the commonwealth of pennsylvania, city of philadelphia, and the philadelphia water department. During 2024, pidc-ldc continued its administration of the philadelphia water department green infrastructure grant, which provides funds for the design and construction of stormwater retrofit projects on commercial, industrial, multifamily, and institutional properties. In 2024, pidc structured and facilitated a stormwater management project in philadelphia for the stormwater retrofit at 1240 e. Erie avenue. This project will feature a subsurface stormwater basin designed to treat stormwater runoff from impervious surfaces. By reducing flow to the combined sewer system, this project directly contributes to decreasing pollution discharged into rivers during rain events, fostering cleaner waterways for future generations.