Thursday, July 07, 2005
Michael Shore, MEDC
Federal Funds to Help Revamp Downtown Bridge
Governor Jennifer M. Granholm today announced $100,200 in funding for the village of Saranac to support enhancements to the Bridge Street Bridge as part of the Michigan Public Works Program. A federal Community Development Block Grant being made available through the Michigan Economic Development Corporation will back the project, which is expected to create new jobs and economic opportunities for the community.
"The changes being proposed will result in a bridge that is safer and more visually attractive for residents and visitors alike," Granholm said. "These are the types of projects that help create a business-friendly environment and a high quality of life for communities like Saranac."
"The village of Saranac is very excited about the opportunity to improve and enhance the Bridge Street Bridge through its involvement with the Michigan Public Works Program," Village President Sue Ferguson said. "The village council has worked very diligently over the years to manage community resources in order to provide matching funds needed to secure grant funding used on various projects throughout the village. This project is another example of the council's ongoing commitment to community-wide infrastructure improvement and downtown enhancement."
Saranac was one of 33 Michigan communities announced in February to receive Michigan Public Works funding, one part of the Governor's $30 million, two-pronged Grow Michigan Communities Initiative that also includes funding for Michigan's Downtowns and Gateways. The MEDC administers the state's Community Development Block Grant funds received from the U.S. Department of Housing and Urban Development.
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.
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 53,000 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.