With some help from the governor's office, a group of well-known York businessmen will be able to finish what they started at 210 York St.

Think Loud Development, a company co-owned by some members of the rock band Live, is the recipient of a $5 million Redevelopment Assistance Capital Program (RACP) grant, Gov. Tom Corbett's office announced Monday.

The company will use the money to finish construction at the former Bi-Comp Inc. building, where Think Loud has established business offices, a recording studio and several apartment suites.

Construction began in 2012 on the $16.8 million project at 210 York St. but had been on hold while Think Loud waited for state officials to decide on the RACP grant, said Bill Hynes, one of the company's co-owners.

"Now, having this $5 million released, will allow us to complete 210," Hynes said.

What's next: After that's done, work will begin on the construction of a 40,000-square-foot data center - at an anticipated cost of $30 million - for United Fiber and Data, a fiber optic company with plans to build an information-transmission line between New York and northern Virginia.

In preparation, Think Loud has purchased about 80 percent of the homes on the northern side of Chestnut Street and plans to demolish them, Hynes said.

Hynes said he's not yet sure of the project's timetable moving forward.

About two years ago, Corbett revamped the state's RACP program to improve objectivity and economic impact, said Jay Pagni, a spokesman for the governor.

"The governor took the politics out of it and really put metrics into place," Pagni said.

The potential for Think Loud's project to create nearly 700 jobs in a growing industry, improve downtown York City and complete construction in a relatively short period of time made it a worthy recipient of RACP funds, Pagni said.

"They're really looking to boost the technology infrastructure of the area," he said. "That's a great economic boost for downtown."

Owners of both Think Loud and United Fiber and Data include Hynes and Live musicians Chad Taylor, Chad Gracey and Patrick Dahlheimer.

Taylor, Dahlheimer and Gracey formed Live with former lead singer Ed Kowalczyk in 1985. The four, all York natives, went on to achieve mainstream success with their 1994 album "Throwing Copper," which produced a string of radio hits.

- Reach Erin James at ejames@yorkdispatch.com.