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Seager defends PA Sites bond plan amid high demand for site dollars
Pennsylvania House Appropriations Committee · February 18, 2024
AI-Generated Content: All content on this page was generated by AI to highlight key points from the meeting. For complete details and context, we recommend watching the full video. so we can fix them.
Summary
Secretary Seager told lawmakers DCED plans to price bonds to finance PA Sites work, citing 66 applications requesting $377M against $125M spend authority and arguing bond financing lets the state deploy site investments now rather than wait for appropriations.
During budget hearings, Representative Marcel and others pressed Secretary Seager about the PA Sites program and the use of bonds to fund site development. Seager said DCED was "pricing this week" and hoped to close next week, and explained why a bond instrument is appropriate to deploy site capital now as applications…
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