Richfield HRA joins new Economic Development Loan Fund

As local governments throughout Minnesota continue to face the reality of having fewer resources in the future for everything from police and fire services to parks and libraries, twenty-four cities and county development agencies from throughout the Twin Cities Metropolitan Area have recently banded together to leverage their limited local funds through membership in the Twin Cities Community Capital Fund (TCCCF), an innovated new economic development financing organization.

TCCCF loans will fill the financing gaps that the city is asked to help with from time to time by businesses and banks, but aren't able to handle with our own limited resources.  This new loan fund is flexible and easy to work with, so the HRA is now able to better respond to the financing needs of local businesses when they want to expand or build a new building or need new business equipment.  The HRA will decide which projects to support, with emphasis on business expansions and new business developments in our targeted redevelopment areas.

For more information, contact the Community Development Department at 612-861-9760 and/or visit http://www.tcccf.org/ .