Friday, May 02, 2014
LANSING, Mich. – A vacant, blighted building in downtown Kingsley (Grand Traverse County) will be demolished with support from the Michigan Strategic Fund, the Michigan Economic Development Corporation announced today. The completed project is expected to result in a total investment of $120,950.
“The removal of this vacant building in downtown Kingsley will bring new vitality and economic opportunities to the entire area and serve as a catalyst for further investment in the community,” said MEDC President and CEO Michael A. Finney. “We are pleased to support the efforts of the Village of Kingsley in eliminating a blighted property and bringing significant improvement to the area.”
The Village of Kingsley has received an $81,655 Community Development Block Grant for the acquisition, demolition and removal of a former feed and grain co-op located on Main Street in the village’s downtown. The Village of Kingsley will make an anticipated contribution of $39,295, which is 33 percent of the total acquisition and blight elimination costs. The completed project will allow for future redevelopment within the downtown.
The Michigan Strategic Fund, in cooperation with MEDC, administers the economic and community development portions of the Community Development Block Grant program. CDBG is a federal grant program utilizing funds received from the U.S. Department of Housing and Urban development.
Each year Michigan receives approximately $30 million in federal CDBG funds, out of which various projects are funded throughout the state. Funds are used to provide grants to eligible counties, cities, villages, and townships, usually with populations under 50,000, for economic development, community development and housing projects.
Pure Michigan is a brand representing business, talent and tourism initiatives across Michigan. These efforts are driven by the Michigan Economic Development Corporation, which serves as the state’s marketing arm and lead advocate for business growth, jobs and opportunity with a focus on helping grow Michigan’s economy.
For more on the MEDC and its initiatives, visit michiganbusiness.org. For Michigan travel news, updates and information, visit michigan.org. Michigan residents interested in seeking employment with any of Michigan’s growing companies should check mitalent.org, where more than 52,000 jobs are currently available in a variety of industries.
# # #