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Committee reviews plan for Keystone Grant-funded revolving loan fund for downtown improvements, tables item for solicitor review
Summary
Members discussed creating a revolving loan fund using Keystone Grant proceeds to support downtown building improvements and housing; staff noted prior loan repayments created available funds, recommended underwriting partners, and the committee tabled the item for legal review and further work.
The committee considered a proposal to establish a revolving loan fund that would use proceeds from a Keystone Grant to lend for community development projects, including building and housing improvements and infrastructure in the downtown area.
Staff said repayments from an earlier loan to the Uptown Theater had replenished a similar fund, and the…
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