The Michigan Economic Development Corporation announced approval of $1.2 million in Core Communities grants to five Michigan communities for public infrastructure and site improvements.
“Improving our communities will ensure their continued vitality and strengthen our ability to attract and retain young professionals, increase tourism and support small businesses,” said MEDC President and CEO Michael A. Finney. “Today’s grants will encourage additional private investment and lead to economic growth in these Michigan communities.”
The communities chosen for awards today are the cities of Allegan, Cadillac, Holland, Kalamazoo and Munising. Projects will generate over $4 million in private and public investment. Additional details on each project are given below.
The Core Communities Fund was part of a legislative appropriation in 2000 to spur private development in urban communities and traditional centers of commerce that met the definition of a “core community.” Funds could be used for land and property acquisition, demolition, site development, infrastructure improvements, and other costs related to the successful development of core community projects. Today’s funds were received through repayment of loans, unused grants and interest income from the original allocation.