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Council approves application for industrial revitalization loan for downtown building
Summary
Council authorized staff to submit an application to Virginia’s Industrial Revitalization Fund to support remediation and renovation at the former Social Services building in downtown Hopewell; if awarded, the program issues low-interest loans that require developer match.
The Hopewell City Council authorized city staff to submit an application to Virginia’s Industrial Revitalization Fund for remediation and renovation work at the former Social Services building downtown.
City staff said the fund is competitive, requires a one-for-one match from building owners, and provides money as a low-interest loan. The city’s resolution authorized staff to make the application on behalf of the jurisdiction so an interested developer can…
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