GOVERNOR ANNOUNCES $2.9 MILLION TO ASSIST LOCAL ECONOMIES
IN MICHIGAN DOWNTOWNS
Governor Jennifer Granholm announced that more than $2.9 million in federal Community Development Block Grant (CDBG) funding has been offered to 18 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.
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 three programs available through CDBG funding to achieve these goals, they are the Downtown Façade Improvement Initiative, the Signature Building Acquisition Initiative and the Land Assembly Initiative. These programs are intended to stimulate other private investment including building and housing renovations and job creation within Michigan’s traditional downtown areas.
“Michigan’s heart and soul is reflected in our unique downtown areas, whether big or small,” Granholm said. “This funding will help create opportunities for new development and economic growth in these downtowns.”
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 façade 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. The Land Assembly Initiative is designed to assist a community in acquiring and demolishing blighted properties to assist in the prevention of additional deterioration within a traditional downtown.
These three programs will utilize a little more than $2.9 million in grants to leverage $12 million in private investments and create 150 full time jobs in downtowns thought the state.
The 18 communities offered the CDBG funding are:
Facade
- The City of Clare $40,000
- The City of Hillsdale $75,000
- The City of Houghton $200,000
- The City of Imlay City $164,500
- The City of Ishpeming $100,000
- The Village of Lake Odessa $200,000
- The Village of Mayville $72,000
- The Village of Ovid $35,000
- The City of Reading $164,512
Signature Building
- The Village of Constantine $90,000
- The City of Corunna $400,000
- The City of Houghton $165,000
- The Village of Port Sanilac $210,000
- The City of Three Rivers $310,000
Land Assembly
- The City of Belding $200,000
- The City of Big Rapids $149,177
- The City of Grayling $85,400
- The City of Marquette $200,000
- The City of West Branch $71,202
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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. | 
