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Year of the City <br /> Job Creation Fund <br /> "...to increase neighborhood employment opportunities <br /> through economic development activities." <br /> Who's Eligible: Private businesses (either Current Budget: $140,000 <br /> for-or non-profit) operating within YOTC- <br /> target areas <br /> Application Procedure: Submit a project Estimated Annual Production: <br /> or program proposal to the MCDA 20 -30 new jobs and training or <br /> Neighborhood Commercial Development retraining for an additional 10 persons <br /> Department. • <br /> Contact Person: Jane Lerdall, 673-5164, Commercial Development Department <br /> • <br /> Program Summary: The YOTC Job Creation Fund provides loans to businesses for <br /> expansion, equipment purchases, or new construction when the activity leads to the <br /> creation of new jobs. Funds can also be used to purchase blighted,vacant, or under- <br /> utilized sites and prepare them for commercial or light industrial redevelopment if job <br /> creation is anticipated as a result <br /> • <br /> - 30- <br /> I <br />