6 ‘Working Cities’ Awarded Grants From The Fed
BOSTON (CBS) — A handful of cities and towns got some good news Wednesday morning as the Boston Federal Reserve handed out grants as part of the first ever “Working Cities Challenge.”
Twenty smaller cities in the Commonwealth submitted proposals to the Federal Reserve to help their cities improve.
WBZ NewsRadio 1030′s Carl Stevens reports
On Wednesday, six of those proposals of how they would use the money, were accepted.
Lawrence was awarded $700,000, Fitchburg was awarded $400,000, Holyoke was awarded $250,000, Chelsea was awarded $225,000, Somerville and Salem were each awarded $100,000.
“We’re thrilled, especially help from the Fed, that’s not something that happens everyday,” Lawrence Mayor Dan Rivera said.
The winners were chosen by a committee made up of people from various civic organizations.
The participating cities will get the benefit of technical assistance as well as access to new capital as the Fed tries to inject new life into some old cities.