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Friday, May 2, 2014
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.
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.
About Michigan Economic Development Corporation (MEDC)
The Michigan Economic Development Corporation is the state’s marketing arm and lead advocate for business development, job awareness and community development with the focus on growing Michigan’s economy. For more information on the MEDC and our initiatives, visit www.MichiganBusiness.org. For Pure Michigan® tourism information, your trip begins at www.michigan.org. Join the conversation on: Facebook Instagram LinkedIn, and Twitter.
