Tuesday, September 20, 2005
Michael Shore, MEDC
$1.4 Million Project Will Create 12 New Jobs
"We will do all we can to help communities like Spring Lake attract new investment and new jobs," Granholm said. "This grant will transform an underutilized property into one that helps to create new jobs and investment."
The grant is being made available by the Michigan Economic Development Corporation with funds provided by the federal Community Development Block Grant program.
The village will use the grant to improve the public entrance to the site, including new curbs, sidewalks and parking, to allow greater public access to the lake. The two-acre property is located at the western entrance into Spring Lake on Lakeside Trail. The village will contribute an additional $26,850 for the project.
"We are grateful for the investment being undertaken by the Rudnitzkis of Onemarket and we are thankful to the MEDC and HUD for this downtown development program," Spring Lake Village President Daniel Keller said.
The Michigan Economic Development Corporation administers the state's Community Development Block Grant funds received from the U.S. Department of Housing and Urban Development. These funds are used to provide grants and loans to eligible counties, cities, villages and townships-typically those with populations less than 50,000-for economic development, community development and housing projects. Larger communities receive block grant funds directly from the federal government.
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.
"CDBG grants have helped hundreds of communities across the state to secure jobs and investment," MEDC President and CEO James Epolito said. "I commend the leaders of Spring Lake for pursuing this funding and this significant new asset for their community."
In her 2005 State of the State address, Granholm emphasized the importance of making Michigan a global economic powerhouse in the 21st century. Since January 2005 the Governor and the MEDC announced the creation or retention of more than 61,000 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.