Governor Jennifer M. Granholm announced today $3.8 million in federal funds has been offered to 15 communities across the state of Michigan to help various downtown redevelopment projects.The funding, available through the federal Community Development Block Grant program (CDBG), will assist with infrastructure and other site improvements to make way for new private downtown development. The revitalization projects are expected to spur more than $37.5 million in private investment and create nearly 300 jobs.
“Downtowns and the small businesses that call them home have traditionally been the bedrock of Michigan’s economic success,” said Granholm.“Redeveloping downtown sites will not only ensure the continued vitality of communities, but strengthen our ability to retain and attract young professionals, small businesses and high-tech firms to these critical centers of commerce.”
This is the second year that the MEDC has administered a competitive funding process for downtown development grants.More than 26 communities applied for funding this year.
The communities receiving downtown funding assistance include (in alphabetical order): Bangor, Cassopolis, Charlotte, Columbiaville, Fennville, Gladwin, Hastings, Howell, Imlay City, Milan, Niles, Onaway, Pinconning, Port Hope and Tittabawasse Township.More details on the individual amount of funding and projects can be accessed by clicking on the attachment icon below.
Highlights of this year’s awards include projects in Howell and Hastings.The Howell project involves $1.1 million in funding to construct a new parking ramp which will be used to serve a new $22.5 million downtown mixed use commercial, retail and residential project creating up to 70 new jobs.The Hastings project involves $90,000 in funding to help prepare a vacant downtown building for redevelopment.The private sector will invest $500,000 to rehabilitate the building for commercial and possibly residential use creating up to 15 new jobs in the downtown.
Michigan receives about $45 million in federal CDBG funds each year. About 150 CDBG projects are funded throughout the state.There are 1,655 local governments eligible to apply for these funds.The use of CDBG funds is limited primarily to smaller core communities that do not directly receivefederal CDBG funding.The funds may be used for economic and community development housing projects.
The Michigan Economic Development Corporation administers the Michigan Community Development Block Grant (CDBG) program.CDBG is a federal program involving funds received from the U.S. Department of Housing and Urban Development (HUD).
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.