RAD Board Looks To 2022 Funding

ALLEGHENY REGIONAL ASSET DISTRICT BOARD
OPTIMISTIC ABOUT 2022 FUNDING

Public meeting highlights strong revenue trends in advance of upcoming application season

Pittsburgh, PA | May 25, 2021 — In light of better-than-expected sales tax revenues thus far in 2021, the Allegheny Regional Asset District (RAD) Board affirmed its current budget and voted to reinstate proposals for capital projects in its next application cycle, open May 26 through July 12. RAD did not accept capital requests for 2021 in light of economic uncertainties due to Covid-19. However, in a public meeting held via Zoom on May 25, the RAD Board noted that year-to-date revenue exceeds not only that of 2020, but also of 2019, which was the highest yielding year in RAD’s history.    

RAD revenue, which comes from half of the proceeds of Allegheny County’s additional one percent sales and use tax, totals $44.4 million year-to-date. The chart below shows comparisons to 2019 and 2020 revenue.

RAD Revenues	2019	2020	2021
January - May	$43.2 M	$41.8 M	$44.4 M
Total Year	$105.96 M	$100.24 M	TBD

 

“We are encouraged by current revenue trends, and thanks to careful monitoring and budgeting over the past year, RAD is in a strong position to sustain our regional assets not only with general operating support, but also with the restoration of capital funding in 2022,” said Dusty Elias Kirk, RAD Board Chair. “We have been so impressed with the perseverance of our assets throughout an incredibly difficult year and we hope that RAD support will play a meaningful role on their path to recovery.”

Applications for 2022 funding are open May 26 through July 12, 2021. The Board will hear from eligible applicants during a public hearing process beginning August 18, 2021. Applicants are encouraged to focus on their financial positions, including their sustainability, plans for growth, and a true assessment of their needs in order to build back to a meaningful capacity. For capital requests, the Board will emphasize shovel-ready projects and consider an organization’s ability to sustain the project long-term. Public hearings will be held via Zoom Webinar in August and September. More information on eligibility and the application process can be found at: radworkshere.org/pages/applications-and-eligibility.

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