Section 23 Action Fund Loans

• Library: Urban Development Subdivisions, and Annexations (2011 Ed.)

The MoDAG (Missouri Development Action Grant) Program provides subordinated CDBG loans usable to make up shortfalls of private debt or equity in the financing of projects that create or retain jobs. At least 51% of the jobs must be filled by persons falling within state-prescribed low- and moderate-income limits.

The MoDAG Program targets manufacturers. Eligible projects include:

· construction or renovation of buildings;

· purchase of lands, equipment, and furnishings; and

· permanent working capital.

Loans for...