Mayor Linda Gorton today officially invited developers planning infill or redevelopment privately funded projects to apply for the city’s new Infrastructure Fund.
“The fund will provide a 0 percent interest loan of up to $500,000 for public infrastructure for projects that aid in long-term job creation,” Gorton said. “The goal is to enable us to both grow jobs and protect green space. We are trying to promote infill development by leveling the playing field - providing developers with an incentive to do infill projects, rather than developing green fields.”
Gorton established the $3 million Infrastructure Fund in the current budget. The Economic Development Investment Board will oversee the project. Program managers are Chief Development Officer Kevin Atkins and Commissioner of Environmental Quality and Public Works Nancy Albright.