A program developed by a task force of the Greater Hagerstown Committee and endorsed by Hagerstown city officials would give low-interest loans to developers who build commercial and residential projects downtown.
The task force met last April with 12 to 15 developers to discuss what it would take to get developers to build downtown, Ed Lough, chairman of the Greater Hagerstown Committee's Urban Renewal and Historic Preservation Forum, said Friday. City officials attended the forum.
Developers said they were hesitant to spend their own money downtown, Lough said.
Following the April 2002 meeting, the task force persuaded local banks to make money available for low-income loans, which in some cases could turn into grants, he said.