The City of Lincoln has been awarded an initial allocation of about $26 million in Recovery Zone Facility Bonds as part of the American Recovery and Reinvestment Act. The bonds may be issued to qualified businesses to finance property in the City's recovery zone.
On March 8, the City Council designated an area within the City of Lincoln as a recovery zone. This designation was based on "distress factors" such as poverty, unemployment, home foreclosures or general distress.
At this time, the City is making available $15 million of Recovery Zone Facility Bonds. Eligible businesses interested is applying for these funds are asked to submit a letter of interest to:
City of Lincoln Finance Director Don Herz
555 S. 10th Street, Suite 103
Lincoln, NE 68508
Letters of interest must be received or postmarked on or before April 16, 2010.
Those interested are encouraged to read the complete award criteria details on the City Web site, lincoln.ne.gov (keyword: finance).