City Will Use Funding to Create Loan Program to Attract Restaurants Downtown
Brockton, MA - United States Senators Elizabeth Warren (D-MA) and Edward J. Markey (D-MA), along with Congressman Stephen F. Lynch (D-MA-08), today announced that the U.S. Department of Housing and Urban Development (HUD) has awarded a $1.5 million Section 108 Loan Guarantee to the City of Brockton for its Downtown Brockton Restaurant Infrastructure Fund (DBRIF) project.
The fund -- which is expected to create or retain at least 43 full-time jobs -- will provide low-interest financing for eligible businesses and investors to promote and encourage the creation of new restaurant options in the dining district within the Brockton's Downtown Urban Revitalization District.
"This federal support is terrific news for Brockton and will help the City continue its efforts to revitalize the downtown area and grow the local economy," Senator Warren said. "I congratulate Brockton officials on this well-deserved award and look forward to supporting Mayor Sullivan as he helps this important project move forward."
"This federal funding will help Brockton set a welcoming table for local diners, visitors, and businesses who can all benefit from Brockton's growing downtown area," said Senator Markey. "I congratulate Brockton for securing this vital funding and look forward to partnering with Mayor Sullivan to support future economic development efforts."
"I am very pleased to see the City of Brockton receive this federal assistance that will help their expansion efforts for the downtown area," said Representative Lynch. "Congratulations to Mayor Sullivan and all of Brockton's officials on receiving this award, and I look forward to working in conjunction with the City of Brockton and Senators Warren and Markey to continue to ensure Brockton receives the necessary federal funding to support its revitalization project."
"This fund will be of huge benefit to Downtown Brockton. Restaurants are a crucial part of creating any thriving neighborhood. I am grateful to the federal delegation for securing this loan guarantee and making investment in Brockton a priority," said City of Brockton Mayor Robert F. Sullivan.