Friday, November 13, 2009
Bridget Beckman, MEDC
(517) 335-4590 firstname.lastname@example.org
LANSING – Governor Jennifer M. Granholm today announced a $42,750 grant that will help a local business, the Midori Sushi Restaurant and Martini Bar, occupy the vacant first floor of the historic 1930s building located at 105 E. Broadway in downtown Mt. Pleasant. The grant is being made available by the Michigan Economic Development Corporation (MEDC) with funds provided by the federal Community Development Block Grant (CDBG) program.
“Vibrant cities with thriving downtown districts are critical to building a strong and diversified economy in Michigan,” Granholm said. “These kinds of projects help attract new businesses, visitors and residents back to our downtowns.”
The city of Mt. Pleasant will use the grant to support façade improvements including restoring historic brick and installing new windows. The developer is investing $60,000 in the project and the city of Mt. Pleasant is contributing a matching $42,750.
“The city of Mt. Pleasant is pleased that MEDC continues to support downtown development and small business owners through the continued funding of the façade improvement program, and we look forward to partnering with the MEDC on more of these projects in the future,” Mt. Pleasant Downtown Development Director Michelle Sponseller said.
The MEDC is able to award approximately $40 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.
“The CDBG program is an excellent resource that helps communities to promote new business development and job creation,” MEDC President and CEO Greg Main said. “The MEDC is pleased to partner with city officials to take this step in strengthening Mt. Pleasant’s downtown.”
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. For more information on MEDC initiatives and programs, visit the Web site at www.MichiganBusiness.org.
# # #