The Metro Council gave final approval to the loan Thursday night. It will be combined with $4 million from the city’s rainy day fund and distributed to a group of retired firefighters who sued the city after being underpaid for overtime.
The building’s developers have been working with city and state officials to put together an application for a $100 million loan from the Department of Housing and Urban Development. The loan would come from HUD’s Section-108 program. Twelve-hundred such loans have been distributed since 2008. Officials say the loan poses no risk to the state, as the developers have pledged to repay it.
The new Green Bank of Kentucky has awarded its first loan to three state-run schools, including the Kentucky School for the Blind in Louisville. The Green Bank isn’t an actual bank, but a revolving loan program created by the state using federal stimulus money. The loans will be handed out for energy efficiency programs and… Continue reading School for the Blind Gets 'Green' Loan
When President Bush announced a government loan to General Motors and Chrysler last week, he called for the end of the jobs bank program, which provides benefits and partial wages for laid-off employees.