Wednesday, August 7, 2013

New loan fund launched for Uptown development

A new revolving loan fund is available for real estate and small business development projects in the Uptown neighborhoods.

The Uptown Development Opportunity Loan fund seeks to stimulate economic growth by providing gap financing for renovations, expansion of properties, or property improvements for companies looking to relocate or grow.

To qualify, projects must create or retain jobs, remove blight, serve as an anchor or catalytic project in a neighborhood business district, or improve the neighborhoods' housing options. Each project also must demonstrate financial viability, developer experience and capacity, an ability to leverage outside funding, and readiness to proceed.

Loans cannot be used to pay off creditors, to satisfy tax liens, or to refinance existing loans.

For more information on the revolving loan fund, contact the Uptown Consortium at (513) 861-8726 or at

Previous reading on BC:
Two Uptown development control districts extended through May 2014 (7/5/13)
Eighth community entertainment district centered around Calhoun, McMillan (7/2/13)
$6.9M Uptown Transit District to 'move Metro to the next level' (6/3/13)
Development controls established in two Uptown districts (4/29/13)
Short Vine is City's seventh community entertainment district (1/22/13)