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Merc hotel developer to get low-interest $800k loan from Missoula non-profit

A local nonprofit has been awarded a nearly $800,000 federal grant to help a private developer create permanent jobs and train workers after the construction of a new hotel in downtown Missoula.

The Montana & Idaho Community Development Corp. announced this week that the grant, from the U.S. Dept. of Health and Human Services, will be turned into a below-market (as in, relatively lower interest) loan to Mercantile Investors LLC, the development group building a new five-story Marriott hotel in downtown Missoula.

DAVID ERICKSON [email protected]

Full story: http://missoulian.com/news/local/merc-hotel-developer-to-get-low-interest-k-loan-from/article_850d266c-e071-560b-a280-4d3a328ba5f4.html

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