Home Delaware Development Finance panel OKS YMCA bonds, grant for Fujifilm

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.

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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.

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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