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Gate City Bank, city reopen Neighborhood Revitalization Initiative with $2 million in lending
Summary
Gate City Bank and city staff described a renewed Neighborhood Revitalization Initiative (NRI) offering loans of $10,000–$100,000 to owners of homes older than 40 years in specified areas; presenters said the program has funded improvements since 2003 and tonight’s presentation accompanies a $2 million offering from the bank.
Representatives from Gate City Bank and city staff presented the 2025 round of the Neighborhood Revitalization Initiative (NRI), a loan program intended to support home improvements in older neighborhoods east of the interstate and within defined city boundaries.
Nicole Crutchfield introduced the Gate City Bank…
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