The Town of Canaan received a $750,000 Community Development Grant in 1996. The Town loaned this money (less some management and administrative costs) to Ethan Allen, Inc. of Beecher Falls to erect a new building and purchase machinery and equipment. Ethan Allen, Inc. paid this money back in full in 2011 and we have deposited these payments in a Revolving Loan Fund. The Canaan Revolving Loan Fund is intended to enhance the quality of life in the Towns of Canaan, Norton, Averill, Warren’s Gore, Avery Gore, Warner’s Grant, Lewis, Lemington, Bloomfield, or Brunswick; by increasing economic activity, creating jobs, providing additional affordable housing, rehabilitating existing housing, and improving public facilities. To the greatest extent feasible, all these activities are to be achieved by providing loan assistance to individuals and organizations that will benefit families, individuals, and households of low and moderate-income.
|
|
