BLACKSBURG, TOWN OF
The Town of Blacksburg's recovery funds will be utlized for the construction of 2 new affordable housing units and the rehablitation of 2 commercial facades. The 5 affordable housing units will be single family detached homes for low-to moderate-income buyers with an income at or below 80% of the area median income. Jobs will be created/retained that are associated with the construction of these 5 totaled . The 2 commercial facades are for new businesses locating into the Town of Blacksburg. Although recovery funds will only be utilized on the exterior via facades, the entire building where the 2 facades will be rehabilitated is being renovated and the recovery funds have served as a leveraging tool for the investor. The facade work will create/retain jobs but the specific data will not be available until construction is complete in the first half of 2010. In addition to the jobs that will be created/retained for the facade work the new businesses in the building will create several full time jobs primarily for low-to moderate-income persons which is beyond the scope of this report.