Millions Soon Available To Help Grow Downtown Freeport

Freeport, Illinois — There should be millions of dollars available to prospective downtown business owners and developers in the next few months, as the city of Freeport locked in a $1.05 million dollar bond on Monday.

The money will be available for downtown economic growth through loans of up to $100,000 dollars, with micro loans of $5k to $10k also being available, according to the city. The bond, which will be paid for by downtown TIF dollars, was matched by local banks in what should total around $3 Million available to help grow downtown.

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The city says the money should be available over the next 2-3 months.

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