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Plattsburgh to revive loan fund

Plattsburgh City Hall (file)
Pat Bradley/WAMC
/
Plattsburgh City Hall (file)

The city of Plattsburgh plans to relaunch an economic development revolving loan fund.

The city describes its Community Development Revolving Loan Fund as a self-replenishing pool of money that uses fees, interest and payments on loans to issue new loans.

The money can be used for business development and home assistance projects such as rehabilitation, construction or reuse of properties within the city.

The Common Council has updated the funding process and is in the early stages of finalizing the program. Applications are expected to open this fall.