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.

Aerial view of the downtown Moline, IL