Menino is set to announce development loans

Mayor Thomas M. Menino is scheduled to announce three "Boston Invests in Growth" loans at a Hyde Park event this morning, his office said in a media advisory.

The loans will enable development to move forward on a new shopping center in Hyde Park, a neighborhood market in South Boston, and a new hotel in the city’s Theater District, the advisory said. "The three projects represent a $230 million economic investment, and are expected to generate more than 650 new permanent jobs and hundreds more construction jobs."

The "Boston Invests in Growth program" is a $40 million loan pool made possible by US Department of Housing and Urban Development Section 108 funding, and the program was first announced by Menino in a speech to the Greater Boston Chamber of Commerce this past winter, the advisory said.
(Chris Reidy, Globe staff)