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Port Authority, LISC provide Adelante, Inc. with grant of $35,000

June 11, 2008: The Toledo-Lucas County Port Authority Board of Directors has granted Adelante, Inc., the sum of $35,000 for the predevelopment of a Community Service Center (with retail space) on Broadway Street in Toledo, Ohio.
 

According to James Hartung, President and CEO of the Port Authority, the funds come from the Community Economic Development Initiative, a grant and loan program developed by the Port Authority and the Local Initiatives Support Corporation (LISC), to assist community based organizations in creating new or revitalizing existing commercial structures that “will attract or retain businesses in Lucas County and facilitate new employment opportunities.”

The funds will be used for architectural design, environmental studies, and a feasibility study. The project is a combination of rehabilitation and new construction and will create a total of five new jobs.

 

According to a press release provided by the Port Authority, the “predevelopment phase of the project should be completed within six months of start date.” The Community Service Center and retail space are part of a long-term community vision to establish the area as a ‘Latino corridor,’ and “this particular parcel as the entrance to that corridor.”

 

“This project is ideal for the Community Economic Development Initiative as it not only meets the needs of the community but also creates economic opportunities and, most importantly, jobs, “says Laurie M. Cantrell, Loan Program Manager for the Toledo-Lucas County Port Authority. 

The design for the project is based on the Latino culture and the development takes place within an existing structure owned by Adelante, Inc., located at 520 Broadway Street.  The new facility will be used for community events, services, and programs in addition to providing commercial space for a small business.
 

“We would like to thank the Port Authority for this predevelopment grant and for their commitment to help revitalize the South End. This grant will take us one step closer in realizing our dream of a community center that will highlight the culture’s richness, our dedication to urban revitalization and create economic opportunities”, says Sonia Troche, Executive Director of Adelante, Inc.

The Community Economic Development Initiative grant and loan program is funded with proceeds from the property tax levy for the purpose of providing grants and loans to economic development projects undertaken by eligible, neighborhood-based organizations.

 

Grant or loan recipients must be 501 (c) 3 organizations in good standing and must demonstrate the capacity to manage funds and develop real estate. Applicants must demonstrate that they are a neighborhood-based, community development organization and must operate within Lucas County. Applications and additional information are available at www.toledoportauthority.org

 

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