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Prince George's County Economic Development Corp. has earmarked $41.5 million of Federal Recovery Zone Facility Bonds (RZFB) for four projects, slated to create about 3,354 jobs and general millions in local revenues.
The Treasury department program is part of the economic stimulus package of the American Recovery and Reinvestment Act of 2009.
The projects being funded are a 22-acre commercial site being transformed into a mixed-use development in an established community; two sites being revitalized to create nearly 2,600 jobs; and infrastructure upgrades to preserve essential buildings. The tax-exempt loans associated with the RZFB program provides businesses with access to bank loans at reduced interest rates. The Recovery Zone Facility Bond program does not involve any financial liability for Prince George's County.
Prince George's County Awards $41.5M of Bond Financing
Seeded on Sat Aug 7, 2010 11:55 AM EDT
Article Source: dcrealestate.citybizlist.com- Enjoy this article? Help vote it up the 'Vine.
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