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Indianapolis receives $39M loan guarantee from HUD

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U.S. Housing and Urban Development has approved a $39 million loan guarantee to the city of Indianapolis to establish a Community and Economic Development Loan Pool.

Under the program announced Monday, the city’s Department of Metropolitan Development will be able to originate loans to provide financing for economic development and housing rehabilitation initiatives to benefit people of low and moderate incomes.

The city estimates its Community and Economic Development loans will create the equivalent of 470 new full-time jobs. More than half the jobs created through the loan program will be made available to low- and moderate-income people, HUD said.

HUD’s Section 108 Loan Guarantee Assistance Program enables cities to borrow money from private investors at reduced interest rates to promote economic development, stimulate job growth and improve public facilities.
 

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  • Don't hold your breath
    I am all for creating jobs and simulating economic activity and growth, but I question if that will actually happen with this money. Having lived in Indy for a short time, I will assume this money will be divided out to developers, investors, etc who are pals with the high ranking city officials and the mayor to line someone's pockets. Some development will be made but not nearly to the extent that it should be.

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  1. Socialized medicine works great for white people in Scandanavia. It works well in Costa Rica for a population that is partly white and partly mestizo. I don't really see Obamacare as something aimed against whites. I think that is a Republican canard designed to elicit support from white people for republican candidates who don't care about them any more than democrats care about the non-whites they pander to with their phony maneuvers. But what is different between Costa Rica nd the Scandanavian nations on one hand and the US on the other? SIZE. Maybe the US is just too damn big. Maybe it just needs to be divided into smaller self governing pieces like when the old Holy Roman Empire was dismantled. Maybe we are always trying the same set of solutions for different kinds of people as if we were all the same. Oh-- I know-- that is liberal dogma, that we are all the same. Which is the most idiotic American notion going right back to the propaganda of 1776. All men are different and their differences are myriad and that which is different is not equal. The state which pretends men are all the same is going to force men to be the same. That is what America does here, that is what we do in our stupid overseas wars, that is how we destroy true diversity and true difference, and we are all as different groups of folks, feeling the pains of how capitalism is grinding us down into equally insignificant proletarian microconsumers with no other identity whether we like it or not. And the Marxists had this much right about the War of Independence: it was fundamentally a war of capitalist against feudal systems. America has been about big money since day one and whatever gets in the way is crushed. Health care is just another market and Obamacare, to the extent that it Rationalizes and makes more uniform a market which should actually be really different in nature and delivery from place to place-- well that will serve the interests of the biggest capitalist stakeholders in health care which is not Walmart for Gosh Sakes it is the INSURANCE INDUSTRY. CUI BONO Obamacare? The insurance industry. So republicans drop the delusion pro capitalist scales from your eyes this has almost nothing to do with race or "socialism" it has to do mostly with what the INSURANCE INDUSTRY wants to have happen in order to make their lives and profits easier.

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