Duluth Council to Vote on Asking State for $2 Million in Flood Recovery for Businesses

By KBJR News 1

Duluth Council to Vote on Asking State for $2 Million in Flood Recovery for Businesses

October 4, 2012 Updated Oct 4, 2012 at 8:32 PM CST

DULUTH, MN (Northland's NewsCenter) - Duluth city leaders are hoping to get more help for businesses hit by the June 20 flooding.

City councilors are expected to give approval to file an application with the state, asking for $2 million through a Minnesota Investment Fund Disaster Recovery Grant.

If awarded, businesses would have to apply to be considered for the loans.

Fifty percent of each loan can be forgiven if a business stays in the region and operates for at least 10 years.

The City Council will vote Monday whether to okay the city's application for the grant and its proposed loan distribution plan.

Posted to Web by Jena Pike
jpike@northlandsnewscenter.com

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