The criteria that the grants promote economic development stress job growth or retention, expansion of the property tax base or improvement of the
overall economic activity in an area.
The award, in the form of Low Income Housing Tax Credits, will produce $ 10.1 million in equity for the project, generate more than $ 15.3 million
in economic activity in the area, and leverage funds from other partners including the Community Preservation Corporation (CPC) and Rome Housing Authority.
Some village trustees said the recreation center would
boost economic activity in the area, but trustees David Pittinger and Gregory Abbott voted against an amendment to allow a community center at the site.
Speaking while opening the road, Chief of Army Staff, Lt. General Tukur Buratai said the road which is a major link between Yobe and southern Borno State, where most agricultural and
economic activities in the area take place, was re-opened due to improved security in the area, and its socio - economic significance to Yobe and Borno States.
The investment, through the federal Low Income Housing Tax Credit Program, will generate more than $ 13 million
in economic activity in the area and leverage funds from other partners including the City of Syracuse, the Federal Home Loan Bank of New York, and the New York State Energy Research and Development Authority (NYSERDA).
He stated that the Eastern Corridor Road which linked the north to the south, when completed, would have a potential of increasing socio -
economic activities in the area.
He expressed unhappiness with the bad road networks in the area and appealed to the government to urgently intervene so as to improve the socio -
economic activities in the area.
«All of this will add to
economic activity in the area, both in 2017 and 2018 with $ 1 billion being added back into the economy,» says Antunes.
The RPR Federal Economic Area reports offer a window into demographics, consumer behavior and
economic activity in an area.