Wednesday, October 20, 2004
Sieting Hotel Project to Bring $600,000 Investment, Eight New Jobs
Governor Jennifer M. Granholm today announced $80,000 in Community Development Block Grant funding to the village of Kalkaska to support the redevelopment of the downtown Sieting Hotel. The grant, made available through the Michigan Economic Development Corporation (MEDC), is expected to lead to $600,000 in private investment and create eight new jobs.
"This will be a great addition to the fabric of downtown Kalkaska," Granholm said. "The CDBG funding will help transform a long-vacant property into a catalyst for jobs and retail investment."
Kalkaska will use the grant to install a public elevator as part of the renovation. The two-story structure will have nine rooms, a restaurant and space for four retail stores. The developers plan to invest $600,000 in the project and create at least eight new jobs.
The village of Kalkaska will contribute $8,000 to the project.
"The village is very excited that this grant has been awarded for the hotel," said Kalkaska Village Manager Bill Cousins. "It will provide a needed spark for the redevelopment project by the new owners, John and Mary Roberts. The hotel is the pinnacle of our downtown; it will be wonderful to see it in active use again."
The MEDC is able to award approximately $50 million in federal CDBG funds each year. There are 1,655 local governments within the state eligible to apply for these funds. Projects are approved contingent upon compliance with state and federal requirements.
"Economically vital small towns are an essential component of ushering Michigan's economy into the 21st century," said MEDC President and CEO Don Jakeway. "This grant will help Kalkaska with the public infrastructure costs necessary for continued development."
In her 2004 State of the State address, Governor Granholm announced her plan to make Michigan a global economic powerhouse in the 21st century. So far this year, the Governor and the MEDC have announced the creation or retention of approximately 30,872 jobs as a result of targeted assistance provided by the MEDC.
The Michigan Economic Development Corporation, a partnership between the state and local communities, promotes smart economic growth by developing strategies and providing services to create and retain good jobs and a high quality of life.