Loan program to help 3 cities with brownfields
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 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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