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Council approves $360,000 CDBG application to support Bruckman Rubber expansion
Summary
The council authorized the city to apply for a Community Development Block Grant to support Bruckman Rubber Company's expansion. The application requests $350,000 to the company plus $10,000 for grant administration; HEDC will administer loan terms and a portion of the award is structured to be repaid into a revolving loan fund.
The Hastings City Council authorized the chief elected official to sign a Community Development Block Grant (CDBG) application seeking $360,000 to assist Bruckman Rubber Company's planned expansion, including $350,000 to the company and $10,000 for grant administration.
Why it matters: The CDBG award would support local job creation and product-line expansion at a long-standing local manufacturer. Grant requirements call for projects to create or retain jobs for low- and moderate-income individuals; proponents told the council the expansion will create…
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