10 Communities Receive $934,430 in Main Street Iowa Challenge Grants | IEDA

November 2, 2022

For extra data, contact:

Staci Hupp Ballard
515.348.6245
communications@iowaeda.com

10 Communities Obtain $934,430 in Major Road Iowa Problem Grants
Tasks will leverage personal investments to revitalize downtowns throughout the state

November 2, 2022 (DES MOINES, IA) – The Iowa Financial Growth Authority (IEDA) in the present day awarded $934,430 in Major Road Iowa Problem Grants to 10 communities across the state. The grants will profit native enchancment initiatives, comparable to historic constructing rehabilitation and higher story renovations.

“The Major Road Iowa Problem grants have been instrumental in revitalizing Iowa’s historic fundamental streets,” stated Debi Durham, government director of IEDA and the Iowa Finance Authority. “Reinvesting in our conventional business districts is nice enterprise. It is good for our economic system and good for our state. These initiatives will convey new companies and new residents to our downtown districts.”

The grants are administered by way of IEDA’s Iowa Downtown Useful resource Heart and Major Road Iowa packages. The funding will probably be distributed within the type of matching grants to the chosen Major Road packages. The estimated complete venture price of those 10 initiatives is over $2.8 million.

“Every venture should present no less than a dollar-for-dollar cash-match,” stated Michael Wagler, state coordinator for the Major Road Iowa program. “In complete, these initiatives will truly leverage considerably greater than the state’s funding into bricks and mortar rehabilitation. This funding may have a major financial affect inside every district.”

For the reason that first Problem Grants had been awarded in 2002, about $13.7 million in funds have leveraged greater than $67 million in personal funding. Over the lifetime of this system, 216 initiatives in 56 Major Road Iowa business districts throughout the state have acquired funding.

For extra details about the Major Road Iowa Problem Grant program, contact Michael Wagler at 515.348.6184 or mainstreet@iowaeda.com.

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Obtain a listing of those awards right here.