Mayor Gray to Mark Success of Streetscape Loan Relief Fund

FOR IMMEDIATE RELEASE: Tuesday, May 22, 2012

CONTACT:
Doxie McCoy (EOM) 202.727.9691; doxie.mccoy@dc.gov
Brendon Miller (DSLBD) 202.741.0860; brendon.miller@dc.gov

Mayor Gray to Mark Success of Streetscape Loan Relief Fund

Fund Managed by DSLBD Provides Interest-Free Loans to Eligible Businesses

WHAT/WHO: Mayor Vincent C. Gray, Ward 1 Councilmember Jim Graham, D.C. Department of Small and Local Business Development (DSLBD) Director Harold Pettigrew, The Reef Restaurant owner Brian Harrison, Meeps Vintage Fashionette owner Katerina Herodotou, Adams Morgan Partnership Executive Director Kristen Barden, and Washington Area Community Investment Fund (WACIF) Executive Director Timothy Flanagan will celebrate the fact that $655,000 in interest-free loans have been extended to D.C. businesses affected by streetscape projects.

WHEN: Wednesday, May 23, 2012, 2:30 P.M.

WHERE: The Reef Restaurant, Roofdeck, 2446 18th Street NW

BACKGROUND: As part of his strategy to grow and diversify the District’s economy, Mayor Gray has made it a priority to support the resilience of D.C. businesses. DSLBD’s Streetscape Loan Relief Fund (SLRF) provides interest-free loans to small retail businesses operating inside or adjoining a streetscape construction or rehabilitation project. WACIF underwrites the loans. Launched in late November 2011, the SLRF has already issued nine loans with a total value of approximately $655,000, with another eight deals valued at approximately $617,000 under consideration. For more information on the Streetscape Loan Relief Fund, please visit: http://dslbd.dc.gov/streetscapefund.

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