Washington County Riverboat Foundation gives $85,000 to aid development

      The Washington County Riverboat Foundation (WCRF) Wednesday gave the East Central Iowa Council of Governments (ECICOG) the $85,000 needed to raise $100,000 that will in turn make it possible to obtain $1.5 million federal money. The vote was 9-1.

      The $1.5 million will come from the federal Economic Development Administration (EDA) to create a revolving loan fund primarily to aid smaller businesses.

      Board member Ed Raber, who also is the county's liaison with ECICOG, presented the grant request to WCRF, noting there was an August 22 deadline to apply for the $1.5 million.

He explained that ECICOG took the $15,000 "they had" and came to WCRF for the $85,000 remaining to meet the mandated $100,000 match.

      "This is a significant economic development tool that we need to take ownership of," Raber said, adding that Washington County is one of the six counties served by ECICOG and "funds would be available to all. It is a big deal."

      Raber said he learned of the EDA funds and application deadline "last Thursday" when he was called by ECICOG director Doug Elliot.

      In urging the WCRF to award the funds, Raber stressed "We better take advantage (of a program) when offered," and that such an "economic development tool has been virtually nonexistent in the county to date."

For the full story, see the Aug. 22 edition of The Washington Evening Journal