CROWN POINT, Ind. (AP) - A regional development authority has set up a revolving loan program to assist the cities of Gary, East Chicago and Hammond in northwest Indiana clean up old industrial sites.
The Times of Munster reports (https://bit.ly/1n9Bry6 ) Northwest Indiana Regional Development Authority is setting up a fund that will make $800,000 available to the cities.
The brownfield revolving loan will offer small loans to cover the up-front costs for cleanups to try to attract more economic development to those cities. The city pays back the loan, allowing the RDA to restore the $800,000 for future use.
RDA communication director David Wellman says the new brownfield redevelopment program should begin this summer.
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Information from: The Times, https://www.thetimesonline.com
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