The Department of Housing and Community Development (DHCD) announced that The City of Frederick was awarded $500,000 from the Smart Growth Impact Fund (SGIF) for the Downtown Frederick Hotel and Conference Center (Project).
Frederick Receives Smart Growth Impact Fund Grant
$500,000 Awarded to Support Downtown Revitalization Project
Frederick, MD – January 19, 2016: The Department of Housing and Community Development (DHCD) announced that The City of Frederick was awarded $500,000 from the Smart Growth Impact Fund (SGIF) for the Downtown Frederick Hotel and Conference Center (Project).
The fund is aimed at providing a catalyst to projects that accelerate economic development and job production in Maryland's sustainable communities. Funding provides assistance for critical pre-development activities in order to attract needed public and private investment to revitalization projects. $2.075 million was awarded to nine projects.
The award will be used to support the site acquisition costs for the development of the proposed 207 room full-service hotel with 24,000 square feet of meeting space in Downtown Frederick. The City previously received a $350,000 SGIF Grant last year bringing the total grant availability to $850,000.
“Funding from the grant is critical to advancing the Project,” said Richard Griffin, Director of Economic Development for The City of Frederick. “We’re pleased DHCD also recognizes the importance of this project and the positive economic impact it will have on Frederick and the State of Maryland.”
For more information about the project, visit http://bit.ly/hotelandconferencecenter. Learn more about recent DHCD grant awards.
The City of Frederick Department of Economic Development strives to increase economic opportunity for Frederick residents through job creation, revitalization and reinvestment.
For more information, contact Richard Griffin, AICP CEcD, Director of Economic Development at 301-600-6360 or email firstname.lastname@example.org