Radisson Hotels

radisson

Instrumental in GAP financing program.


The Quad City Regional Economic Development Authority (QCREDA) provided the technical expertise to form the first Community Development Corporation (CDC) in Rock Island County. A (CDC) is a vehicle for local banks to pool their resources to fund all or part of a project.
 
The hotel project was short of its financial goal, and the CDC provided what is referred to as “gap financing”. QCREDA chose to deposit $50,000 in the CDC as the hotel was a key part of the Moline downtown redevelopment program.
 
 
downtown

Arial view of the downtown Moline, IL