According to a press release from Whitfield’s office, the money will be used for economic development and community growth for the downtown area. The city will receive the funds for the purchase and rehabilitation of several vacant properties, which will then be leased to restaurants and retail establishments. The funds will also be used for low-interest loans for business start-up and expansion costs, the release said.
“It is my hope this money will help create jobs for residents in Trigg County,” Whitfield said in the release.?“Rehabilitating these vacant properties will promote significant economic development which will benefit the community.”
Mayor Lyn Bailey said that the city requested $1 million from Whitfield, meaning that they received five percent of what they wanted. He said he didn’t know what buildings might be purchased, but that he hoped the funds could be used at the city’s discretion. He wasn’t sure what rules and regulations might come along with the grant. Whatever the city decides to do, it will have to funding from other sources.
“You can’t do a whole lot with $50,000,” Bailey said last Friday.
To read the full story, read page A11 of your latest Cadiz Record.