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Count of businesses damaged in riots rises to about 400

BDC: ~400 stores damaged in riots. 61 have received ~$417k in recovery grants, loans

About 400 businesses suffered physical damage related to the riots in April, Baltimore Development Corp. President William H. Cole IV said Thursday, upping an earlier tally of 361.

Most of those businesses intend to re-open or have done so already, if sometimes at diminished capacity, he said.

The BDC, the city's quasi-public economic development arm, has distributed about $417,000 to 61 businesses in the form of storefront recovery grants and loans, which carry 0 percent interest and can be forgiven if the store remains open for two years.

About $127,000 in existing BDC funds for storefront recovery grants went to 47 businesses. The BDC also awarded 14 stores $289,000 in loans from money raised after the unrest.

Nearly all the money received after the riots has been committed. The agency is still waiting for some money that has been pledged, Cole said.

Cole said he did not know how much money the state and federal government have provided. Insurers also picked up some of the costs, he said.

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