Del. development finance panel meets

Delaware Council on Development Finance considers millions in funding requests

Associated Press

NEW CASTLE, Del. (AP) -- State economic development officials are considering whether to approve a bond issue of up to $20 million for the Delaware Military Academy.

Proceeds from the bond issue would be used to make a loan to the charter school for a variety of projects, including buying about 7.5 acres of adjacent land, adding science classroom space, and building a new gym and auditorium complex and athletic fields.

The Council on Development Finance was to consider the proposal at its meeting Monday.

Other agenda items include the Food Bank of Delaware's request for a $1.1 million grant to support expansion of its Milford facility.

Kentucky-based Ashland Inc., which acquired Wilmington-based specialty chemicals maker Hercules Inc. in 2008, is asking for a $10 million grant to expand and renovate its Wilmington campus.

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