Here’s one for your Pennsylvanians out there: Governor Ed Rendell (D) has just announced a bailout of Boscov department stores for $35 million of your hard-earned money. Just the latest evidence that bailouts won’t stop at the financial institutions and automakers.

Gov. Ed Rendell announced today that the state will direct $35 million of federal Housing and Urban Development money to Al Boscov and his family to help them purchase the bankrupt department store chain.

Rendell said the money will help Boscov secure the funds to complete the purchase in bankruptcy court.

Without the money, the department store chain may not be able to survive, he said. It has 39 stores and 9,000 employees in the mid-Atlantic region. Rendell said there are 25 stores and 5,000 employees in the state. Boscov’s is based in Reading.

“It would be devastating in the state of Pennsylvania to lose Boscov’s,” he said.

The family also is receiving $6 million in federal funding from the cities of Scranton and Wilkes-Barre. Rendell said Boscov and other family members are putting in $53 million of their own equity.

Still, the family needs more funds to complete the deal. Rendell said the $35 million, in the form of a Section 108 HUD loan, is contingent on Boscov arranging the bridge financing to consummate the purchase.

A hearing has been scheduled for 11 a.m. Friday on the sale of the Boscov’s assets. Boscov’s filed for Chapter 11 bankruptcy protection on Aug. 4 in the U.S. Bankruptcy Court in Delaware.

So it’s actually more interesting that just a regular bailout. He’s actually giving $35 million to Al Boscov, in addition to the $6 million in federal funding, to purchase the stores. $41 million of taxpayer money to one individual.

Update: New Jersey counties join in on the bailout.

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