FNCB Bank Invests in Scranton Project

FNCB Bank, locally based since 1910, today announced an $11,013,953 Low Income Housing Tax Credit (LIHTC) Investment for the Scranton Square Apartments project through the Pennsylvania Housing Finance Agency (PHFA).

The project, located on Dickson Ave. in the Green Ridge section of Scranton, will consist of 36 newly constructed senior housing units. Of the 36 units, 32 are slated to be one bedroom and four are two bedrooms. The units will be affordable to low-income households falling below various levels of the area median income (AMI).

“The need for affordable, safe and accessible housing is great in our community,” said Jerry Champi, FNCB Bank President and CEO. “This project will not only provide much needed housing for low-income senior citizens, but it is also redeveloping a large vacant lot in the city. FNCB Bank is pleased to be a partner on this project by providing a significant portion of the total cost.”

Additional partners include Quandel Construction Group as the general contractor, and the project’s developer, QSP Development, which is a Quandel Enterprises affiliate.

Scranton Square Project is part of FNCB’s larger Community Caring initiative. As a true, local community bank, FNCB is making a difference through volunteerism, donations, and outreach programs.