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Pennsylvania Department Of Community And Economic Development
Pennsylvania Department of Community and Economic Development is a cabinet-level state agency in Pennsylvania. The mission of the department is to enhance investment opportunities for businesses and to improve the quality of life for residents. The department works to attract outside corporations, spur expansion of existing local employers, and foster start-ups by providing tax incentives and technical assistance. Additionally, the agency provides grant funding to community groups and local governments for projects such as revitalizing "Main Street" infrastructure, enhancing low income housing availability, or improving access to technology. Act 58 The Department was created by the Community and Economic Development Enhancement Act ''(Act of Jun. 27, 1996, P.L. 403, No. 58)' merging the Departments of Commerce and of Community Affairs. The incumbent Secretary of Commerce, Thomas B. Hagen, became the first Secretary of the new department Act 47 The Financially Distressed Municipali ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Government Of Pennsylvania
The Government of the Commonwealth of Pennsylvania is the governmental structure of the Commonwealth of Pennsylvania as established by the Pennsylvania Constitution. It is composed of three branches: executive, legislative and judicial. The capital of the Commonwealth is Harrisburg. Executive branch The elected officers are: In Pennsylvania all members of the executive branch are not on the ballot in the same year: elections for governor and lieutenant governor are held in even years when there is not a presidential election, while the other three statewide offices are elected in presidential election years. Departments The Governor's Cabinet comprises the directors of various Commonwealth agencies: * Department of Community and Economic Development (DCED) * Department of Aging * Office of General Counsel (OGC) * Department of Insurance * Department of Corrections (DOC) * Department of Transportation (PennDOT) * Department of State (DOS) * Department of General S ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Dennis Davin
Dennis M. Davin served as Pennsylvania Secretary of Community and Economic Development from 2015 until 2022, having been nominated by Pennsylvania Governor Tom Wolf Thomas Westerman Wolf (born November 17, 1948) is an American politician and businessman serving as the 47th governor of Pennsylvania since 2015. A member of the Democratic Party, he defeated Republican incumbent Tom Corbett in the 2014 guber ... and confirmed in May 2015. Previously, he served as Director of the Allegheny County Department of Economic Development. Biography Before his appointment, Secretary Davin served as Director of the Allegheny County Department of Economic Development (ACED), where he was responsible for creating and executing the economic development strategy for Allegheny County. He managed funding from local, state and federal sources to implement economic development activities such as site development, new job creation initiatives, community development, and affordable housing for ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pennsylvania
Pennsylvania (; ( Pennsylvania Dutch: )), officially the Commonwealth of Pennsylvania, is a state spanning the Mid-Atlantic, Northeastern, Appalachian, and Great Lakes regions of the United States. It borders Delaware to its southeast, Maryland to its south, West Virginia to its southwest, Ohio to its west, Lake Erie and the Canadian province of Ontario to its northwest, New York to its north, and the Delaware River and New Jersey to its east. Pennsylvania is the fifth-most populous state in the nation with over 13 million residents as of 2020. It is the 33rd-largest state by area and ranks ninth among all states in population density. The southeastern Delaware Valley metropolitan area comprises and surrounds Philadelphia, the state's largest and nation's sixth most populous city. Another 2.37 million reside in Greater Pittsburgh in the southwest, centered around Pittsburgh, the state's second-largest and Western Pennsylvania's largest city. The state's su ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Commonwealth Of Pennsylvania
Pennsylvania (; (Pennsylvania Dutch: )), officially the Commonwealth of Pennsylvania, is a state spanning the Mid-Atlantic, Northeastern, Appalachian, and Great Lakes regions of the United States. It borders Delaware to its southeast, Maryland to its south, West Virginia to its southwest, Ohio to its west, Lake Erie and the Canadian province of Ontario to its northwest, New York to its north, and the Delaware River and New Jersey to its east. Pennsylvania is the fifth-most populous state in the nation with over 13 million residents as of 2020. It is the 33rd-largest state by area and ranks ninth among all states in population density. The southeastern Delaware Valley metropolitan area comprises and surrounds Philadelphia, the state's largest and nation's sixth most populous city. Another 2.37 million reside in Greater Pittsburgh in the southwest, centered around Pittsburgh, the state's second-largest and Western Pennsylvania's largest city. The state's subsequent five m ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Municipality
A municipality is usually a single administrative division having corporate status and powers of self-government or jurisdiction as granted by national and regional laws to which it is subordinate. The term ''municipality'' may also mean the governing body of a given municipality. A municipality is a general-purpose administrative subdivision, as opposed to a special-purpose district. The term is derived from French and Latin . The English word ''municipality'' derives from the Latin social contract (derived from a word meaning "duty holders"), referring to the Latin communities that supplied Rome with troops in exchange for their own incorporation into the Roman state (granting Roman citizenship to the inhabitants) while permitting the communities to retain their own local governments (a limited autonomy). A municipality can be any political jurisdiction, from a sovereign state such as the Principality of Monaco, to a small village such as West Hampton Dunes, New York. Th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Distress
Financial distress is a term in corporate finance used to indicate a condition when promises to creditors of a company are broken or honored with difficulty. If financial distress cannot be relieved, it can lead to bankruptcy. Financial distress is usually associated with some costs to the company; these are known as ''costs of financial distress''. Cost A common example of a cost of financial distress is bankruptcy costs. These direct costs include auditors' fees, legal fees, management fees and other payments. Cost of financial distress can occur even if bankruptcy is avoided (indirect costs). Financial distress in companies requires management attention and might lead to reduced attention on the operations of the company. Another source of indirect costs of financial distress are higher costs of capital as usually banks increase the interest rates if a state of financial distress occurs. Options for relieving financial distress If high debt burden is the cause of financia ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financially Distressed Municipalities Act
The Financially Distressed Municipalities Act ''(Act of 1987, P.L. 246, No. 47)'', also known as Act 47, is a Pennsylvania statute outlining procedures to stabilize municipalities in Pennsylvania undergoing financial distress. The Act empowers the Pennsylvania Department of Community and Economic Development to declare certain municipalities as financially distressed. It provides for the restructuring of debt of financially distressed municipalities, limits the ability of financially distressed municipalities to obtain government funding; authorizes municipalities to participate in federal debt adjustment actions and bankruptcy actions under certain circumstances; and provides for consolidation or merger of contiguous municipalities to relieve financial distress. History Most provisions of Act 47 initially remained suspended until the termination of the Pennsylvania Intergovernmental Cooperation Act (Section 708 of Act 1991, June 5, P.L. 9, No 6). The cities of Erie Erie (; ) i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pennsylvania Intergovernmental Cooperation Authority
PICA History The Pennsylvania Intergovernmental Cooperation Authority, or PICA, is the financial oversight board for the City of Philadelphia. It was created through the 1991 legislation, "Pennsylvania Intergovernmental Cooperation Authority Act for Cities of the First Class," or the PICA Act. PICA was created to provided financial assistance to the City of Philadelphia during a severe financial crisis. At that time, Philadelphia faced a growing operating deficit, mounting overdue bills, and credit ratings which were dropping below investment grade. The City had instituted a municipal hiring freeze and the quality of municipal services was eroding as a result. PICA was founded to "foster the fiscal integrity of cities of the first class...and provide for proper financial planning procedures and budgeting practices."Act of June 5, 1991, Pub. L. No. 9, 53, Pa.Stat.Ann section 12720. PICA Bonds At its inception, PICA had the power to issue bonds to benefit the City of Philadelph ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Philadelphia
Philadelphia, often called Philly, is the largest city in the Commonwealth of Pennsylvania, the sixth-largest city in the U.S., the second-largest city in both the Northeast megalopolis and Mid-Atlantic regions after New York City. Since 1854, the city has been coextensive with Philadelphia County, the most populous county in Pennsylvania and the urban core of the Delaware Valley, the nation's seventh-largest and one of world's largest metropolitan regions, with 6.245 million residents . The city's population at the 2020 census was 1,603,797, and over 56 million people live within of Philadelphia. Philadelphia was founded in 1682 by William Penn, an English Quaker. The city served as capital of the Pennsylvania Colony during the British colonial era and went on to play a historic and vital role as the central meeting place for the nation's founding fathers whose plans and actions in Philadelphia ultimately inspired the American Revolution and the nation's inde ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pittsburgh Intergovernmental Cooperation Authority
The Pittsburgh Intergovernmental Cooperation Authority (Pittsburgh ICA, also known as the Intergovernmental Cooperation Authority for Cities of the Second Class) is a special administrative body created by the Commonwealth of Pennsylvania to oversee the finances of the City of Pittsburgh. The Pittsburgh ICA was created by the Pennsylvania General Assembly though the ''Intergovernmental Cooperation Authority Act for Cities of the Second Class'' or ''Act 11 of 2004'' on February 12, 2004. The Pittsburgh ICA is charged with "providing for financing" in Pittsburgh. It may only consider whether city budgets "are balanced, based upon prudent, reasonable and appropriate assumptions and if they comply with the city’s pending Act 47 recovery plan. Policy questions are outside its legal jurisdiction when approving or disapproving budgets." The Pittsburgh ICA operates within the context of an "Intergovernmental Cooperation Agreement" between it and the City of Pittsburgh. The Pittsburgh ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
