Development authority plans loan fund

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By The Associated Press

Story Published: Jul 2, 2009 at 9:47 AM MDT

Story Updated: Jul 2, 2009 at 9:47 AM MDT

GREAT FALLS - Officials with the Great Falls Development Authority are hoping to create a $1.5 million revolving loan fund to spur projects revitalizing downtown.

The authority already administers some loan funds, but those programs don't allow the organization to work on mixed-use buildings.

The organization's senior vice president Sheldon Bartel said the fund would be based on a similar program in Billings.

The Great Falls Development Authority plans to take the proposal to city commissioners this summer.

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