Tuesday, October 12, 2004
Downtown Development Plan to Set a Course for the Future
Michigan Economic Development Corporation (MEDC) representatives joined Imlay City officials today to celebrate the city's designation as one of 11 communities to participate in the 2004 "Blueprint for Michigan's Downtowns" program. The program will help Imlay City leaders formulate a comprehensive action plan to address economic development challenges and encourage growth. Imlay City will receive $15,000 from the MEDC and the Michigan State Housing Development Authority (MSHDA), and provide an additional $15,000 for its local match.
"This is a great way for communities to proactively take charge of their ongoing development," said MEDC President and CEO Don Jakeway. "Imlay City will have the opportunity to utilize expert advice from one of the country's top downtown consulting firms to formulate a plan for the future."
As a Blueprint community, Imlay City will work with the MEDC and the national downtown consulting firm of HyettPalma to develop an action plan. The process includes defining a long term economic development vision, conducting a market analysis to determine the potential of the downtown area, formulating a definitive course of action and encouraging the formation of a public/private management team to implement the plan. HyettPalma will make its initial visit to Imlay City next April. Formulating the plan will take approximately five months, with implementation estimated to take five years.
"The MEDC has once again provided Imlay City with the necessary resources to continue our proactive approach to downtown development," said Kyle Hoffman, Imlay City Director of Downtown Development. "We are ecstatic about the opportunity to work with a firm as recognized as HyettPalma. Their expertise and experience should provide us with a comprehensive, market-driven approach to revitalizing our core business district."
The MEDC and MSHDA have committed a total of $200,000 to fund this year's Blueprints program.
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.