City to Highlight Economic Development & Housing Revolving Loan Fund Program
The City’s Department of Economic and Community Development invites developers to learn more about the $20 million Economic Development and Housing Revolving Loan Fund Program in the city of Richmond on Tuesday, July 30 at 8 a.m. on the 2nd floor of Main Street Station, 1500 East Main Street. Funding for this loan program is being provided as gap financing for eligible projects, through the U.S. Housing and Urban Development’s Section 108, to assist with economic and community development activities in the city of Richmond. The funds have been used to create a business loan pool targeted to special projects to include affordable housing that will have positive economic and community development benefits within targeted neighborhoods. Target neighborhoods include the Arts & Cultural District, Shockoe Bottom, Manchester, Jeff Davis corridor, Brookland Park Boulevard, and the 25th Street - Nine Mile Road corridor. However, the City will be willing to provide business loans to eligib