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Akron Fund Receives Grant from Goodyear in an Effort to Revitalize Downtown Neighborhoods

Christopher Burnham, President of Summit Development Finance Authority
Christopher Burnham, President of Summit Development Finance Authority
President of Development Finance Authority Chris Burnham aims to revitalize distressed downtown Akron neighborhoods.
Credit Summit DFA / Summit DFA
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President of Development Finance Authority Chris Burnham aims to revitalize distressed downtown Akron neighborhoods.

A local fund that aims to restore areas of economic distress in Akron is getting closer to its $4.5 million goal. The Akron Community Revitalization Loan Fund received a $100,000 grant this week from Goodyear Tire & Rubber.

In April, Huntington Bank contributed a quarter of a million dollars to the fund.

President of the Development Finance Authority Chris Burnham says the fund should be able make loans starting mid-summer.

The fund will be fully up and running and functional and ready to make loans. We’ve identified at least 6 projects that would meet the underwriting criteria and also fulfill what the funders would like to see in Akron be funded. We probably can have a couple of those projects funded by the end of the year.

Each project will focus on business development in distressed downtown Akron neighborhoods. 

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