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Finance committee approves $200,000 revolving loan fund to spur downtown building improvements
Summary
Using $200,000 repaid from a 2017 Keystone Communities grant, the committee approved establishing a revolving loan fund with loans capped at $200,000, façade grants capped at $10,000, business improvement loans capped at $100,000, 5‑year terms and 4.5% interest; a separate federally funded UDAG pool will remain distinct.
The West Chester Finance Committee voted to establish a revolving loan fund (RLF) using $200,000 in proceeds returned from a prior Uptown repayment under the Keystone Communities program.
Barb, the borough director, described the proposed program and said the RLF would fund acquisition, rehabilitation or new commercial construction (loans capped at $200,000), façade improvements (caps of $10,000) and business‑improvement loans…
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