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Cumberland Officials Reach Out for Rolling Mill Funding

December 3rd, 2015 by WCBC Radio

City officials are working with the Cumberland Economic Development Corporation to put together a funding package for the Maryland Avenue Redevelopment Project- and state and county assistance is needed. Cumberland officials say the urban renewal project in the Rolling Mill section of the city will cost about $2.5 million and impact approximately 60 homes when completed. The plan will initially require $1.7 million of city money, bringing the project cost to $4.2 million. However, the $1.7 million is considered a temporary infusion of cash that will be paid back to the city once the $2.5 million is raised through a state bond sale expected to take place around March. City Administrator Jeff Rhodes acknowledged that the city has reached out to the state for financial assistance, and Allegany County Commissioner Bill Valentine said the county too has been approached by the city for funding…





 

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