Hotel Developer to Get Low-Interest $800K Loan

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.

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