Buckeye Hills Regional Council was awarded $1.2 million for one of 18 projects recently announced by Appalachian Regional Commission (ARC) in coal-impacted communities across seven Appalachian states. The 18 projects will receive $15.7 million and will create or retain more than 1,700 jobs, benefit nearly 1,200 students and workers, and leverage an additional $64 million into the Appalachian Region.
Development Fund of the Western Reserve Announces Complete Capitalization of the Akron Community Revitalization Fund
The Development Fund of the Western Reserve (DFWR) has announced the Akron Community Revitalization Fund is now fully capitalized and open for business.
The Akron Community Revitalization Loan Fund is designed to fund projects in distressed census tracts, defined as areas with a poverty rate of at least 30% and unemployment rate of at least 10 percent.
The Fund is capitalized by U.S. Bank as the NMTC investor providing cash equity of $2.25M, along with investments from Akron Development Fund and PNC Bank, and the following major contributors: