October 24, 2016

Springfield Republican: New downtown Springfield restaurants plan gets $1.5 million HUD loans boost

SPRINGFIELD - The U.S. Department of Housing and Urban Development will provide low interest loans totaling up to $1.5 million to support new full-service restaurants in the downtown Springfield business district and the jobs created, federal officials announced Monday. U.S. Sens. Elizabeth Warren and Edward J. Markey and U.S. Rep. Richard Neal, in a joint press release, praised the new HUD Section 108 Loan Guarantee that will provide individual loans ranging from $50,000 to $200,000 to support Springfield's Downtown Dining District Loan Fund initiative.

"This federal support will help Springfield continue its efforts to revitalize downtown and grow the local economy," Warren said. "I was glad to work with Mayor (Domenic) Sarno and the congressional delegation to help secure this award, and I look forward to seeing the project move forward."

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