Chatham Village Charitable Trust

A. In february 2023, the Trust retained pm contracting to restore the historic storefronts in the small commercial area at the corner of Virginia ave. and bigham street in the pittsburgh neighborhood of mt Washington. The contractor was selected by public bidding in august 2022. The budget was raised through grants awarded by the Pennsylvania department of community & economic development with matching amounts raised by the Trust from residents of Chatham Village homes. Work began in september 2023 and was 50% complete by the end of the year. The summer 2023 budget impasse in the pa legislature caused the Trust to obtain and fully use an emergency line of credit to fund start-up costs for the restoration project. The credit facility was expensive and the Trust raised additional funds for the interest costs. Finally, the Trust reimbursed the Chatham Village corporation for administrative and accounting support for the project and other reporting requirements.