A local bank has stepped forward to provide financing for a million-dollar restoration project which officials say is key to Tamaqua's revitalization.

On Wednesday, officials of Mauch Chunk Trust Company awarded a $500,000 bridge loan to the Tamaqua Historical Society to aid the construction phase of restoration at the organization's museum at the 1905 Tamaqua National Bank building.The $1 million renovation project is funded by the Pennsylvania Redevelopment Capital Assistance Program along with the historical society, John E. Morgan Foundation and the Tamaqua Area Community Partnership.The CAP initiative is a reimbursement program, which means the project wouldn't be able to move forward without a bridge loan during construction.Patrick H. Reilly, chief executive officer and president of Mauch Chunk Trust, said the bank understands the significance of the restoration at 114 W. Broad St., a classical revival structure considered a strong contributing resource to the Tamaqua National Historic District."By preserving and showcasing the community's history, the museum will enhance Tamaqua's downtown and give local folks another reason to be proud of their hometown and optimistic about its future," Reilly said. "We're pleased to have the opportunity to support this project."A spokesman for the Tamaqua partnership credited Mauch Chunk Trust for believing in the overall vision of the Tamaqua area."Mauch Chunk Trust Company is a great community partner that works side by side with our volunteers and community organizations to accomplish goals," said Micah Gursky, director."We're looking forward to finishing the museum project and opening a beautifully restored exhibit space for the community."70 percent completedSociety President Dale Freudenberger said a sense of excitement is in the air because the museum will be something entirely new."Thanks to our project partners, including Mauch Chunk Trust, the Society will now be able to offer a newly renovated Tamaqua Area Historical Museum that will celebrate the rich history of the greater Tamaqua area and surrounding Eastern Schuylkill County area through new exhibits, artifact collections, and a new gallery featuring thousands of photographs and artwork from the area. We're grateful to MCTC for their strong support of our project."The project is currently about 70 percent completed.A representative of the business community said the new museum is essentially a rising tide that will raise all ships."The restoration is an important piece in the continued development of our downtown commercial district," said Linda Yulanavage, executive director, Tamaqua Area Chamber of Commerce."Once completed it'll become another treasure to be discovered by both tourists and residents and will bring an increase in traffic to all businesses here."Others on hand for the announcement were Deborah Price, MCTC commercial loan officer; Michael Prock, branch manager; Dana MacDonald, assistant branch manager; and Kevin Steigerwalt, Tamaqua borough manager.Construction for the project began in November 2014 and is expected to be completed in August.However, museum volunteers will then need several months to prepare and set up displays before a grand opening can take place.The museum is expected to anchor a downtown area boasting visitor destinations that include a new, all-you-can-eat Chinese buffet that opened recently across the street, a $1.5 million restored Tamaqua train station and gourmet restaurant, a popular Italian restaurant and historical attractions.The museum owns and controls artifacts of national importance, along with extensive collections of artwork and photography by post-Civil war era photographers Elmer and David Baily, works by nationally acclaimed artist J.G. Scott, the archives of mid-20th century photojournalist Roy Ackerman, and a collection of local images by coal region archivist Scott Herring and others.