Mt. Pleasant receives Main Street Iowa Challenge Grant
Main Street Mt. Pleasant received a $75,000 Challenge Grant on Tuesday for an upper floor renovation project of the Hoaglin Building, in Mt. Pleasant. Lisa Oetken, Main Street Mt. Pleasant director, was on hand to receive the grant at an Iowa economic development conference, in Des Moines.
The Iowa Economic Development Authority (IEDA) awarded $965,500 in Main Street Iowa Challenge Grants to 14 communities around the state on Tuesday. The grants are meant to benefit local improvement projects such as façade upgrades and restoration, upper floor rehabilitations, building stabilizations and repairs and remodels to spaces for expanding downtown businesses.
“The Main Street Iowa Challenge grants have proven to be catalysts for the revitalization of Iowa’s historic main streets,” said IEDA Director, Debi Durham. “These projects represent the ongoing commitment the people of our state – both our elected officials and private citizens – have to the revitalization of our historic downtown districts. Rehabilitated downtown buildings create opportunities for the new businesses and new residences in the core of our communities.”
The grants are administered through IEDA’s Iowa Downtown Resource Center and Main Street Iowa programs. The funding will be distributed in the form of matching grants to the selected Main Street programs. The estimated total project cost of the 14 bricks and mortar projects is over $3.7 million.
“Each project must provide at least a dollar-for-dollar cash-match for each of the grants,” explained Main Street Iowa coordinator, Michael Wagler. “Overall, these projects will leverage four times the state’s investment into brinks and mortar rehabilitation and technical services. These projects will have a significant economic impact within each district and they will have a direct impact on each community’s downtown revitalization efforts.”
The Challenge Grant program is funded through an appropriation from the Iowa Legislature.