EUREKA - At least seven municipalities in Woodford County expect to put together proposals to request a share of nearly $1.3 million in grant money that will come from the dissolution of the county’s state and federal-backed revolving loan fund program.
Representatives from each of the seven met with the county's finance committee this past Wednesday night.
“We want to move to the next step in the process,” said committee chair Charles Nagel.
The program was initiated several years ago with federal money doled out by the state to promote economic development. It served as an incentive for businesses to request low-interest loans to create jobs and promote development. As the loans were paid off, the money and interest were returned to the fund to be loaned out again.
See article on March 21 Woodford County Journal newsstands