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Commissioners review funding requests

12/24/09 (Thu)

By Alyssa Schafer, Editor

Revitalizing Underwood is not cheap, as those involved with two business projects are finding out. But members of the Underwood Area Economic Development Corporation (UAEDC) believe these projects are community investments that will show healthy returns over time. At last week’s city commission meeting, commissioners reviewed funding applications for two different projects. For each of these projects, there is a pending request for a $20,000 loan under the City’s Revitalization Fund and a request for grant money from the Sales Tax and Use Fund. The City’s Revitalization Fund is a revolving loan fund established to assist Underwood’s small businesses, said Becky Bowen of the UAEDC. It uses United States Department of Agriculture Rural Development funds and matching city funds, according to the UAEDC’s presentation about the proposed applications.