DETROIT (AP) — The Knight Foundation has awarded a $2.5 million grant to the Detroit Development Fund in an effort to help boost the city’s business economy.
Officials with the foundation say the grant will support stage retail and creative businesses in Detroit, as well as advance the fund’s mission to revitalize the city’s economically distressed areas.
They said it also will focus on minority and female entrepreneurs.
The Detroit News reports that the $2.5 million initially was given to the Detroit Development Fund as a low-interest loan.
The Knight Foundation’s program director for Detroit says the conversion to a grant will allow the fund to attract more capital and expand its activities.
The Knight Foundation has pledged more than $80 million to Detroit since 2008.
- Posted October 26, 2015
- Tweet This | Share on Facebook
Development Fund receives $2.5M grant for businesses
headlines Macomb
- Macomb County Meals on Wheels in urgent need of volunteers ahead of holiday season
- MDHHS hosting three, free virtual baby showers in November and December for new or expecting families
- MDHHS secures nearly 100 new juvenile justice placements through partnerships with local communities and providers
- MDHHS seeking proposals for student internship stipend program to enhance behavioral health workforce
- ABA webinar November 30 to explore the state of civil legal aid in America
headlines National
- This Is the Moment
- ACLU and BigLaw firm use ‘Orange is the New Black’ in hashtag effort to promote NY jail reform
- BigLaw partner won’t charge his $3,250 hourly rate to defend New Jersey cities in Trump administration suits
- After second federal judge withdraws error-riddled ruling, litigants seek explanation
- 5 hallucinated cases lead federal judge to kick 3 Butler Snow lawyers off case
- Bondi files ethics complaint against federal judge who reportedly expressed concern about ‘constitutional crisis’
