Bryn Mawr Trust Provides $250,000 PA Tax Credit Contribution for The Riverfront Alliance of Delaware County, Reaney Street Reconstruction Project
Bryn Mawr Bank Corporation (NASDAQ: BMTC) announced a $250,000 state tax credit exchange donation to the Riverfront Alliance of Delaware County (RADC). This donation, BMT's largest to a nonprofit, will aid the Reaney Street Reconstruction Project to enhance safety and accessibility in Chester, Pennsylvania. BMT's financial support aligns with its commitment to invest in underserved communities. The project aims to improve public safety and connectivity, supported by RADC's efforts in local economic development. BMT operates 41 banking locations across several Pennsylvania counties.
- BMT's $250,000 donation is its largest to a nonprofit, demonstrating strong community support.
- The Reaney Street Reconstruction Project aims to create a safer and more accessible environment in Chester.
- BMT's involvement supports the long-term revitalization efforts in local communities.
- None.
BRYN MAWR, Pa., Jan. 25, 2021 (GLOBE NEWSWIRE) -- Bryn Mawr Bank Corporation (NASDAQ: BMTC) and wholly-owned subsidiary Bryn Mawr Trust (BMT) today announced a
The development of the Reaney Street Reconstruction Project will support RADC’s goal to create a more accessible, safe, and attractive environment with ongoing community programming along the connector streets that link Chester’s residential neighborhoods to the Delaware County waterfront. Improvements will include the installation of ADA compliant curbs, lighting; increased sidewalk size to accommodate pedestrians; and a buffer separation between sidewalks and vehicular traffic. BMT’s contribution is part of their long-term partnership with RADC to invest in and support underserved communities in the City of Chester.
"We are thrilled to offer our resources, time, and talent to this wonderful organization and the Reaney Street Reconstruction Project," said Anthony Poluch, Community Reinvestment Act (CRA) Officer at BMT. "Projects like this can be a catalyst for additional transformative development projects and increased interest and commerce in a community."
In addition to financial support, several BMT employees are RADC volunteer committee members. BMT Chief Financial Officer Mike Harrington is an RADC board member. His term began in 2020. Also, BMT Director of Facilities Emanuel Ball and Security Officer Brett Bottura serve on the Public Safety Committee.
"Supporting organizations and institutions in the communities we serve is a long-established priority for BMT," said Bryn Mawr Bank Corporation President and CEO Frank Leto. "We are pleased to be a part of this long-term community-building effort at the beginning stage."
RADC will work directly with the City and the Chester Economic Development Authority to undertake this project and make sure it is constructed in accordance with all local requirements. The Waterfront Development Tax Credits RADC received for this project allow the organization to access private sector support for critical infrastructure that could not otherwise be supported locally.
“We are so thankful to Bryn Mawr Trust for their contribution that will ensure safe access to the Chester Waterfront as we continue this revitalization process,” said Lisa Gaffney, RADC Executive Director. “We embarked on ambitious and critical goals in 2020 to revitalize the City of Chester. The Reaney Street Reconstruction Project is one of our first steps in improving connectivity, community access and public safety, and will serve as a model for the streetscape development planned across the Chester waterfront.”
BMT currently operates ten (10) full-service and three (3) limited access retirement community branch banking locations in Delaware County.
About The Riverfront Alliance Delaware County (RADC)
RADC is a consortium of private sector corporations and nonprofit institutions that have come together to develop and implement programs and activities that serve as the catalyst for the physical, economic, and social development of the Delaware County waterfront. Originally established in 1996, The Institute for Economic Development, Inc. (IED) serves as an engine for economic and social development. In September 2020, RADC launched a new Chester Waterfront Master Plan, which serves as a framework to direct the redevelopment of the waterfront, promote better connections to the local community and establish Chester as a regional destination to stay and live for residents, businesses and visitors.
About Bryn Mawr Bank Corporation
BMTC (NASDAQ: BMTC), including its principal subsidiary, The Bryn Mawr Trust Company (BMT), was founded in 1889 and is headquartered in Bryn Mawr, Pa. BMT is a locally managed, premier financial services company providing retail and commercial banking; trust administration and wealth management; and insurance and risk management solutions. Bryn Mawr Bank Corporation has
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