Development Finance panel OKS YMCA bonds, grant for Fujifilm

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The Delaware Council on Development Finance approved a Strategic Grant an expansion of Fuifilm and bonds for a new YMCA in Middletown.

Fujifilm got the OK to receive $1,644,640 to expand its ink operations in New Castle.

The Strategic Grant is awarded if the company meets employment goals.

The project, in an industrial area a short distance from the Delaware Memorial Bridge, saw some criticism from neighbors, a possible outgrowth of the chemical release at the nearby Croda plant a few years ago.

The council also approved $18 million in revenue bonds for the new YMCA in Middletown.

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The bonds, have to be endorsed by the state under Internal Revenue Service rules. However, investors, rather than the state, bear the financial risk for the bonds.

The Y has already raised most of the funds for the center in a town nearing 25,000 residents.

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