Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: TUESDAY, September 12, 1995 TAG: 9509120044
SECTION: CURRENT PAGE: NRV-3 EDITION: NEW RIVER VALLEY
SOURCE: NEW RIVER VALLEY BUREAU
DATELINE: LENGTH: Short
In addition to a previously announced award to the town of Dublin for its acquisition of the former Burlington Mills property and conversion of the property into an industrial park, awards will go to the towns of Blacksburg and Pulaski.
Blacksburg will receive its award for persistence in seeking a way to deal with the effect of population increases on schools and recreation.
The result of its effort has been a new elementary school which doubles as a recreation center after school hours.
Pulaski was recognized for its initiative in recycling a federal Urban Development Action Grant to encourage economic development by creating new jobs, safeguarding existing ones and funding an economic development plan.
The town got the UDAG funds in 1984 and 1985 to ease economic distress through loans to two critical industries in the community. The town was allowed to keep the money when the loans were repaid.
In 1991 Pulaski Town Council earmarked the money for economic development, and has made a number of loans to new small businesses starting in Pulaski's revived downtown business area. The revolving loan fund has generated more than $750,000 in new business investment.
This year the town is using the interest from the fund to start its own economic development program.
The winners will be recognized at the Virginia Municipal League's annual banquet Oct. 10 at Virginia Beach.
by CNB