Friday, February 07, 2014
LANSING, Mich. – The Michigan Economic Development Corporation today announced Michigan Strategic Fund approval of a $183,425 grant for the rehabilitation of property along Old US-27 in the Charter Township of DeWitt.
“The renovation of this distressed property on US-27 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 DeWitt Township in restoring this property and bringing significant improvement to the area.”
The grant is being made available by the Michigan Economic Development Corporation with funds provided by the federal Community Development Block Grant (CDBG) program. The funds will help address blight and physical decay along the South Central Area commercial corridor to help spur investment and additional blight removal. The community has identified this property as a key property in its revitalization efforts. The total project cost is estimated to be $366,850 and the community will contribute a 50 percent match in funding.
“For several years, the Township has implemented over a dozen initiatives along the Old US-27 Corridor as part of our effort to stabilize and increase the growth in this area. The property located at 16164 Old US-27 is constantly used as an example of the type of blight and underutilization that needs to be eliminated to bring about significant positive changes,” said Rodney H. Taylor, Southern Clinton County Municipal Utilities Authority Board of Commissioners member. “We are appreciative to the State of Michigan for its assistance in helping local jurisdictions address long standing issues that impact the safety and economic development potential of a community. Without this grant to assist the Township, the distress of this property would continue to be a concern and issue for the residents and businesses, and we would not be able to achieve our long term objectives.”
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.
# # #