Rock Lititz update

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• Rock Lititz LLC. The live-event industry campus in Lititz is borrowing $2.25 million to build what will be known as Pod 4 [biznewspa.us4.list-manage.com]: a 133,600 square-foot building housing TAIT, Clair Global and virtual-reality startup MajorMega.
o The total project cost is nearly $15.4 million.
o Construction began last year and is expected to wrap up this fall, according to Rock Lititz spokesperson Jill Brown.
o Arranged through the Lancaster-based EDC Finance Corp.,the 15-year PIDA loan carries an interest rate of 3.75% that will adjust once during the term of the loan.

[michelforest]

• Rock Lititz LLC. The live-event industry campus in Lititz is borrowing $2.25 million to build what will be known as Pod 4 [biznewspa.us4.list-manage.com]: a 133,600 square-foot building housing TAIT, Clair Global and virtual-reality startup MajorMega.
o The total project cost is nearly $15.4 million.
o Construction began last year and is expected to wrap up this fall, according to Rock Lititz spokesperson Jill Brown.
o Arranged through the Lancaster-based EDC Finance Corp.,the 15-year PIDA loan carries an interest rate of 3.75% that will adjust once during the term of the loan.

Is Mike Tait still an owner/shareholder?

[Close to the Edge 72]

More news from Rock Lititz:

Quick takes



WHO'S BUILDING: Rock Lititz, Pennsylvania College of Art & Design and a United Kingdom-based outfit called Academy of Live Technology at Production Park. They are partnering on a new education center under construction at the Rock Lititz campus in Lancaster County.
• The goal of the center, to be called the Academy of Live Technology at Rock Lititz, is to train future professionals in the live-production industry.
• The academy is slated to open for classes in fall 2024 with 20 to 30 students and room to grow, according to Andrea Shirk, president and CEO of Rock Lititz.
• Students will take general education classes at PCA&D in Lancaster and technical classes at the center.
• PCA&D added a major in live experience design and production in 2021.
• The British academy opened in 2011 at Production Park, which is a UK equivalent to Rock Lititz.
• It was originally known as Backstage Academy but changed its name yesterday to Academy of Live Technology at Production Park as part of the announcement of its partnership with Rock Lititz.

What's the cost: Rock Lititz declined to share. But a state grant application listed a project budget of just over $10 million.
• The state Redevelopment Assistance Capital Program is kicking in $5 million toward the roughly 30,000 square-foot center (pictured below).