Rendell’s office explains Fayette Bank Building comments
When Gov. Edward G. Rendell said during a recent Fayette County campaign stop his next project in Uniontown is revitalization of the Fayette Bank Building, he wasn’t speaking of any firm plans to purchase the building, according to a spokesman. Chuck Ardo of the governor’s press staff said Rendell was talking about the fact that Rendell is “both willing and prepared to participate in redevelopment of that building should it become eligible for state funds.”
Earlier this week, the Philadelphia Democrat said his next project for the region would be revitalization of the building.
The 12-story building owned by businessman Gary Gearing is currently enrolled in the state’s tax-free Keystone Opportunity Zone and Local Economic Revitalization Tax Assistance Act. LERTA provides a tax exemption of 100 percent of the valuation of the new construction and improvements to the building. It expires at the end of 2008. The KOZ designation expires at the end of 2013. Gearing could not be reached for comment on any future plans for the building.
The first floor of the 211,000-square-foot building has housed a bank, an arcade and numerous offices in its nearly 100-year existence. The building has 11 usable floors and 70 apartments.
Earlier this year, the Herald-Standard reported the building also was on a list of potential projects for consideration for $1 million in funding under Rendell’s Growing Greener County Environmental Initiative Program. The project did not make the final cut for funding approved by the Fayette County commissioners.
Fayette County Commissioner Joseph A. Hardy III, who has personally purchased and renovated numerous downtown Uniontown buildings, was instrumental in hosting Rendell earlier this week. Hardy was not available for comment regarding any plans he may have for the building.
Ardo said Rendell “has a full understanding that (the Fayette Bank Building is) part of the importance of downtown development.” Ardo said any plans for the building are in the most preliminary stages. Ardo said the state wouldn’t have to buy the building but could partner with the local redevelopment authority.
“(Rendell) is more than willing to participate in a project that would develop the bank building. It’s central to the plan,” Ardo said.