If you click on the post, you will see the description and requirements of the Community Development Block Grant through the Department of Commerce that was recently applied for by the Evanville Common Council.
In the case of the Economy Store project, the net amount applied for is $280,000 and there is an additional $20M that goes to the Housing Authority to administer it. The requirements of the grant are interesting in that there are requirements of job creation and specifically requirements as to employees hired. Also required are detailed financial statments.
I have provided this info as a public service. There was some notion that this was "free money." It is not free. It is repaid with interest and terms negotiated between the city and the applicant.
Stay tuned to The Evansville Observer. We actually go to the meetings.
Thursday, December 14, 2006
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Very interesting, thanks for the search on this.
ReplyDeleteOne question I have, what the hell does 51% of the jobs are to go to low and moderate income mean? Do we provide them with low-paying jobs and keep them in that income level or if we pay them more and they get out of that income level do companies need to add more positions of lower income? It is kind of like Title 9. There is a lot of questions that need to be asked andmaybe they have like.
If a doughnut shop (generally lower income) was in the building and goes out of business and a law firm (generally higher) takes it place does that effect the number of total low and med income positions for this 51% and if it is broken what happens then.