MONTGOMERY, COUNTY OF
Grant: $485,004 - Department of Housing and Urban Development - Jun. 29, 2009
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Award Description: CDBG-R funds will be used to provide low interest loans to businesses wishing to expand or relocate to east Montgomery County, Texas. In exchange for low interest loans, businesses agree to hire low income local residents, per standard procedures set forth in 24 CFR 570. Program Income from the repayment of loans will be used by the Subrecipient to award additional loans. The sole Subrecipient agrees to advance loans to create at least 18 new jobs for qualified eligible residents.
Project Description: Subrecipient identified. Contract negotiations completed. Contract signed. In next quarter, Subrecipient will commence reviewing loan applications and awarding loans to qualified businesses, then tracking job creation/hiring activities.
Jobs Summary: No jobs created. Subrecipient reports 0 jobs retained in order to administer grant funds in this quarter. (Total jobs reported: 0)
Project Status: Not Started
This award's data was last updated on Jun. 29, 2009. Help expand these official descriptions using the wiki below.
Funds from this award have been disbursed to sub-grantees. Click here to see a list of sub-grantees.
Sub-grantees
| Recipient | Amount | City | State |
|---|---|---|---|
| East Montgomery County Economic Development Corpor | $366,504 | NEW CANEY | TX |
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