The Eugene City Council on Monday approved a $450,000 loan to give a key boost to a downtown apartment project.

The city loan will help plug a financing gap that has led to a delay in the start of the proposed WestTown on Eighth apartment complex, next to the WOW Hall.

"I look forward to getting this project moving so we can have more people living downtown," said Councilor Andrea Ortiz.

WestTown's developer, Eugene-based Metropolitan Affordable Housing Corp., plans to build 102 apartments for low- to moderate-income residents. Rents would range from $478 a month for a studio apartment to $738 for a two-bedroom apartment. .

DOE grant to help teach about energy efficient construction

Kentucky is receiving a grant from the United States' Department of Energy (DOE) to help teach builders and the public about the benefits of energy efficient buildings.The commonwealth will partner with the University of Kentucky's College of Agriculture to develop a program curriculum and the Cooperative Extension Service to help spread awareness of energy efficient buildings to the public, specifically homeowners. The Kentucky Community and Technical College System (KCTCS) will also help curriculum development and training.The application was for $485,731. A final award amount will be determined after the DOE negotiates and signs a final project agreement with the state. The University of Kentucky will also add an additional $140,933. The grand total of the project could be as high as $626,664 pending final contract negotiations with DOE.“This grant will help make Kentucky a leader in providing our citizens with better homes and buildings through education and technology," said Governor Ernie Fletcher.

KFAED signs $8.3 million loan agreement with Mozambique

(MENAFN) Kuwait Fund for Arab Economic Development (KFAED) signed a loan agreement worth $8.3 million to finance construction of two agricultural science and technology institutions in Mozambique, KUNA reported.

KFAED said the project would consolidate Mozambique's social and economic development by providing higher educational services in agricultural sciences, saying that a large number of high school graduates would be able to enroll in these institutions.

Moreover, it said the projects would have the capacity of 500 students, and included furniture, educational tools, equipment, human resource training support.

With this agreement, KFEAD's total loans to Mozambique stand at nine, with eight worth $72.1 million for projects in the transport, communications, and electricity sectors, as well as five technical assistance loans merged into one loan worth $1.92 million for feasibility studies.