City and Havana receive federal funds for economic development
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[June 25, 2008]
WASHINGTON -- Congressman Ray
LaHood, R-Peoria, announced Tuesday that two Mason County
communities will each be receiving $99,000 to assist in the
development of revolving loan funds.
Havana and Mason City are recipients of the U.S. Department of
Agriculture funding, which is used by communities to make
low-interest loans to both new and existing small businesses.
Havana's revolving loan fund will be recapitalized with $99,000. The
current Havana loan fund has been used on nine downtown
revitalization projects. Mason City will use its $99,000 to
establish a revolving loan fund for the first time.
loan funds are a tremendous tool for our rural and small communities
as they attempt to attract economic development to their area," the
congressman said. "These funds have been an especially great
resource for communities who aim to revitalize their aging downtown
areas with new business opportunities. It is rare that two
communities in the same county are (recipients of) funding during
the same fiscal (year), so I applaud the Department of Agriculture
for recognizing the need for these funds in Mason County. I also
congratulate Mayor Dale Roberts of Havana and Mayor Dave Knieriem
for having the foresight to work towards establishing these funds."
[Text from news release from
Rep. Ray LaHood, 18th