GOVERNOR ANNOUNCES $2.1 MILLION TO ASSIST LOCAL ECONOMIES
 IN MICHIGAN DOWNTOWNS

LANSING -- Governor Jennifer M. Granholm today announced that more than $2.1 million in federal Community Development Block Grant (CDBG) funding has been offered to 14 Michigan downtown communities across the state. This funding is part of community development and revitalization efforts that are key to building strong economic stability in Michigan communities and downtowns.

“A thriving downtown is a critical part of a successful community,” Gov. Granholm said.  “This funding will help create opportunities for new development and economic growth in these downtowns.”

The funding, made available through the Michigan State Housing Development Authority (MSHDA) and administered by MSHDA’s Community Assistance Team (CATeam), will be used for downtown improvement projects designed to financially assist communities that have targeted key downtown properties in need of physical improvements.  

There are two programs available through CDBG funding to achieve these goals. They are: the Downtown Facade Improvement Initiative and the Signature Building Acquisition Initiative. These programs are intended to stimulate private investments including building and housing renovations and job creation within Michigan’s traditional downtown areas.

The Facade Improvement Initiative is designed to assist a community in making physical improvements to an entire traditional downtown area, block or portion of a block that contains buildings and businesses in need of facade improvements. 

The Signature Building Initiative is designed to assist a community in acquiring a vacant or underused building for rehabilitation purposes and must result in job creation. 

These two programs will utilize a little more than $2.1 million in grants to leverage $4 million in private investments and create over 300 full time jobs in downtowns throughout the state.  

The 14 communities offered the CDBG funding are:

Facade

• The City of Norway $75, 231
• The Village of Lake Odessa $200,000
• The City of Three Rivers $92,500  
• The City of Ironwood $400,000
• The City of Reading $147,500
• The Village of Blissfield $40,431
• The City of Morenci $31,502
• The Village of Kalkaska $163,051
• The Village of Port Austin $55,000
• The City of Iron River $200,000
• The City of Alma $64,500
• The Village of Akron $25, 566
• The City of Greenville $200,000

 Signature Building

• The City of Hillsdale $94,800
• The City of Greenville $395,000

MSHDA is a quasi-state agency that provides financial and technical assistance through public and private partnerships to create and preserve safe and decent affordable housing, engage in community economic development activities, and address homeless issues. MSHDA’s loans and operating expenses are financed through the sale of tax-exempt and taxable bonds and notes to private investors, not from state tax revenues. For more information on MSHDA programs and initiatives, visit the Web site at www.michigan.gov/mshda.

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